Math Problem Statement

It has been determined that the cost of producing x units of a certain item is 8x+260 . The demand function is given by p=D(x)=56−0.4x find the revenue function

Solution

To find the revenue function R(x)R(x), we need to multiply the price per unit pp by the number of units xx sold.

Given:

  • Demand function (price per unit): p=D(x)=560.4xp = D(x) = 56 - 0.4x

The revenue function R(x)R(x) is calculated as: R(x)=p×xR(x) = p \times x Substituting the demand function into the revenue function: R(x)=(560.4x)×xR(x) = (56 - 0.4x) \times x R(x)=56x0.4x2R(x) = 56x - 0.4x^2

So, the revenue function is: R(x)=56x0.4x2R(x) = 56x - 0.4x^2

Would you like more details or have any questions about this process?

Here are 8 related questions you might find useful:

  1. How can you find the profit function using the cost and revenue functions?
  2. What is the break-even point where revenue equals cost?
  3. How do you determine the maximum revenue using the revenue function?
  4. What is the marginal revenue function derived from the revenue function?
  5. How does the demand function affect the revenue and profit functions?
  6. Can you find the value of xx that maximizes the revenue function?
  7. How do changes in the demand function parameters affect the revenue function?
  8. What would happen to the revenue function if the cost function changed?

Tip: To find the maximum or minimum values of functions like revenue or profit, you can take the derivative and set it equal to zero, then solve for the critical points.

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Math Problem Analysis

Mathematical Concepts

Functions
Revenue Functions
Demand Functions

Formulas

Revenue function: R(x) = p(x) * x

Theorems

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Suitable Grade Level

Advanced High School