Model the expression for total revenue

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Reference no: EM1378348

Question: The relationship d= 5000 25p explains what happens to demand as price varies. Here, price can vary between $10 and $50.

a. How many units can be sold at the $10 price? How many can be sold at the $50 price?
b. Model the expression for total revenue.
c. Consider prices of $20, $30, and $40. Which price alternative will maximize total revenue? What are the values for demand and revenue at this price?

Reference no: EM1378348

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