Math Problem Statement
Suppose that the manufacturer of a gas clothes dryer has found that, when the unit price is p dollars, the revenue R (in dollars) is Upper R left parenthesis p right parenthesis equals negative 5 p squared plus 10 comma 000 p. What unit price should be established for the dryer to maximize revenue? What is the maximum revenue? Question content area bottom Part 1 The unit price that should be established to maximize revenue is $
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Solution
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Math Problem Analysis
Mathematical Concepts
Quadratic Functions
Maximization
Revenue
Formulas
Maximum of a quadratic function p = -b / 2a
Revenue function R(p) = -5p^2 + 10,000p
Theorems
Vertex formula for quadratic functions
Suitable Grade Level
Grades 10-12
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