Math Problem Statement

The price p​ (in dollars) and the quantity x sold of a certain product satisfy the demand equation x equals negative 5 p plus 100. Answer parts​ (a) through​ (g). Question content area bottom Part 1 ​(a) Find a model that expresses the revenue R as a function of p.​ (Remember, Requals​xp.) ​R(p)equals

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Solution

To find a model that expresses the revenue RR as a function of price pp, we need to use the relationship:

R=xpR = x \cdot p

We are also given the demand equation:

x=5p+100x = -5p + 100

Now, substitute this expression for xx into the revenue equation:

R=(5p+100)pR = (-5p + 100) \cdot p

Simplifying this expression:

R(p)=5p2+100pR(p) = -5p^2 + 100p

Thus, the revenue RR as a function of pp is:

R(p)=5p2+100pR(p) = -5p^2 + 100p

Would you like further details on this?

Here are some related questions to consider:

  1. What is the maximum revenue that can be achieved?
  2. For what price pp will the revenue be maximized?
  3. How does the revenue change as the price increases?
  4. How does the demand equation relate to real-world sales models?
  5. What is the revenue when p=10p = 10?

Tip: The maximum revenue can be found by analyzing the vertex of the quadratic function for revenue.

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Math Problem Analysis

Mathematical Concepts

Algebra
Quadratic Functions
Revenue Modeling

Formulas

R = x * p
x = -5p + 100
R(p) = -5p^2 + 100p

Theorems

Revenue as a quadratic function
Vertex of a parabola for maximum value

Suitable Grade Level

Grades 9-11