Tuesday

July 22, 2014

July 22, 2014

Posted by **kim** on Sunday, October 10, 2010 at 11:28pm.

A. Assume that the demand curve is linear. Find the demand, q, as a function of price, p.

Answer: q=

B. Write the revenue function, as a function of price. Answer: R(p)=

C. Find the price that maximizes revenue. Hint: you may sketch the graph of the revenue function. Round your answer to the closest dollar.

Answer:

D. Find the maximum revenue, i.e., the revenue that corresponds to your answer for the preceding question. Answer:

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