Explore BrainMass
Share

Explore BrainMass

    Question about Maximizing Revenue

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Demand for pools. Tropical Pools sells an above ground model for p dollars each. The monthly revenue for this
    model is given by the formula R(p)=0.08p2 +300p.

    Revenue is the product of the price p and the demand (quantity sold).

    a) Factor out the price on the right-hand side of the formula.
    b) Write a formula D(p) for the monthly demand.
    c) Find D(3000).
    d) Estimate the price at which the revenue is maximized. Approximately how many pools will be sold monthly at this price?

    © BrainMass Inc. brainmass.com October 9, 2019, 11:17 pm ad1c9bdddf
    https://brainmass.com/math/linear-transformation/estimating-price-revenue-maximized-251557

    Solution Preview

    Please find attached the solution properly described and also in the attached file.

    R= -0.08p^2 + 300p

    Revenue is the product of the price p and the demand (quantity sold).
    Let the ...

    Solution Summary

    The solution contains detailed step-by-step answers including a graph to estimate the price at which revenue is maximized.

    $2.19