The demand equation for a certain product is P 35 0001x wh

The demand equation for a certain product is P = 35 - 0.001x, where x is the number of units sold per week and P is the price in dollars at which one is sold. The weekly revenue R is given by What number of units sold produces a weekly revenue of $60,000?

Solution

P = 35 - .001x ; x is the number of units sold per week and P is the price in dollars at which one is sold.

Revenue = P(x)* x = x(35 - 0.001x) = 35x - 0.001x^2

R(x)= 60,000 ; slve for x

60000 = 35x - 0.001x^2

-0.001x^2 + 35x - 60000 =0

x = 1807.64 , 33192.35