Math Problem Statement
If the revenue function for a particular commodity is R(p) = −53p2 + 69p, what is the (linear) demand function q(p)? q(p) =
Give a reason for your answer.
R = q − p
R = p + q
R = p q
R = pq
R = q p
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Revenue Function
Demand Function
Linear Equations
Formulas
Revenue function: R(p) = p * q(p)
Demand function: q(p) = R(p) / p
Linear form: y = mx + b
Theorems
Linear Function Theorem: The graph of a linear function is a straight line.
Revenue-Demand Relationship: Revenue is the product of price and quantity.
Suitable Grade Level
Grades 11-12
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