Question about Maximizing Revenue
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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?
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The solution contains detailed step-by-step answers including a graph to estimate the price at which revenue is maximized.
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R= -0.08p^2 + 300p
Revenue is the product of the price p and the demand (quantity sold).
Let the ...
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