Revenue.
a. Using the price–demand function p (x) = 1275 – 25x, 1 ≤ x ≤ 30, of Exercise 1, write the company’s revenue function R (x) and state its domain.
b. Find and interpret R (1), R (5), R (10), R (15), R (20), R (25), and R (30).
c. Using the data from part (b), sketch the graph of y = R (x).
d. Solve the equation R (x) = 4700 and interpret your result.
Exercise 1
Price–demand. Analysts for an electronics company determined that the price–demand function for its 60–inch LED televisions is
p(x) = 1275 – 25x, ≤ 1
where p is the wholesale price per TV in dollars and x, in thousands, is the number of TVs that can be sold.
a. Find and interpret p (5),p (15), and p (30).
b. Sketch the graph of y = p (x).
c. Solve the equation p (x) = 650 and interpret your result.
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