Question

Need help please. For the demand equation, express the total revenue R as a function of the price p per item.
q = −5p + 500
R(p) = ?

So if I just set R=p(-5p+500), I can turn it into a quadratic formula . . . and ummm still working on where to go from there . . . >_<

Answer 1

Nevermind I figured it out :)

R=pq
=p(-5p+500)
=-5p^2+500p

Answer 2

So then I take P=-b/2a and plug that in to figure out p.

Answer 3

And end up with p=50, and to get my revenue equation I just use =5p^2+500p

Answer 4

and 50 is the maximum for the total revenue xD

I think I did it right . . .

Answer 5

what does the: q = -5p + 500, represent?

Answer 6

the quantity

Answer 7

q = quantity? at a given p, price?

Answer 8

yesh

Answer 9

But I think I got it, quadratic function is my friend<3

Answer 10

and revenue = price, p times q quantity sold

Answer 11

Unless I did it wrong O_O . . . I don't think I did . . . it makes sense when I go back and rework my math.

Answer 12

yes sir

Answer 13

the quadratic is good; it lets you determine where the maximum revenue with regards to price is then

Answer 14

you did good

Answer 15

R(p) = -5p^2 + 500p

p = -500/2(-5) = 500/10 = 50

Answer 16

yes thats what I did :D

Answer 17

Yay maybe theres hope yet for me, I think I'm understanding this now. Tyvm for checking it for me.

Answer 18

youcould have also found where it zeros out at and get the middle between them

Answer 19

youre welcome

Answer 20

umm how would I find where it zeroes out? o.o

Answer 21

do I set it equal to zero?

Answer 22

factor it:

-5p^2 + 500 factors to:

p(-5p + 500) = 0 when p=0 and p=100

the middle point being 50

Answer 23

ohhhhhhhh, wow that makes sense now too haha omg

Answer 24

:) good luck

Answer 25

thanks again ^.^<3