Models company revenue is R=-15p^2+300p+12000, where p is the price in dollars of the company's product.?

Question

Models company revenue is R=-15p^2+300p+12000, where p is the price in dollars of the company's product.


1. What price will maximize revenue?
2.What is the maximum revenue?

Answer 1

1. 10
2. 13,500

Answer 2

It's pretty simple, just use the vertex formula:

- b
----
2 a


Where:
a = -15
b = 300


- 300
---------
2 (-15)


- 300
---------
- 30

Max price = 10 dollars.

..................

Now, plug the max price into the equation:

R = -15 (10)^2 + 300 (10) + 12000
R = -15 (100) + 3000 + 12000
R = -1500 + 3000 + 12000
R = $13,500

Good luck in your classes.


The exact same question was posted a few minutes ago.
http://answers.yahoo.com/question/index?qid=20061222075157AAyv5BZ&show=7#profile-info-AA10939514

Answer 3

10 is the max price and 13500 is the max revenue