The price p per kilogram when x kilograms of a certain commodity are demanded given by
p=[{300}/{x+3}]+105 for 0 < x < 100
Find the revenue function.
Hint: Revenue is equal to
price*number of units sold.
In the example,
price = p(x)
number of units sold = x
To find the revenue function, we need to multiply the price per kilogram by the quantity demanded. The quantity demanded is given as x kilograms.
So, the revenue function (R) can be calculated as R = p * x.
Using the given price equation p = [{300}/{x+3}] + 105, we substitute it into the revenue function:
R = ( [{300}/{x+3}] + 105 ) * x
Simplifying further, we distribute x into the terms inside the bracket:
R = [300 * x / (x + 3)] + 105x
Therefore, the revenue function is given by:
R = [300 * x / (x + 3)] + 105x