Model the expression for total revenue

Reference no: EM13331764

The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. Here, price can vary between $10 and $50.

a. Model the expression for total revenue (write the mathematical expression in the context of this problem).

b. Consider prices of $20, $30, and $40. Which of these price alternatives will maximize total revenue? What are the values for demand and revenue at this price?

Reference no: EM13331764

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