The revenue function is given by Rx x px dollars where x is

The revenue function is given by R(x) = x p(x) dollars where x is the number of units sold and p(x) is the unit price. If p(x) = 41(4)^x/6, find the revenue if 12 units are sold. Round to two decimal places.

Solution

Revenues = Quantities * price

R(12) = 12 * p(12) = 12 * 41 * 4^-12/6 = 12 *41 *(1/16) = 123/4 = 30.75 dollars