Solve the Problem $p$ (In Dollars) and the Quantity $x$ Sold of a Certain Product Obey the Demand Equation

question 92

Multiple Choice

Solve the problem.
-The price $p$ (in dollars) and the quantity $x$ sold of a certain product obey the demand equation
$$p = - 10 x + 240 , \quad 0 \leq x \leq 24 \text {. }$$
What price should the company charge to maximize revenue?

• A) \$6
• B) \(\$ 18\)
• C) \(\$ 14.4\)
• D) \(\$ 12\)

---

Definitions:

Federal Government Spending

Expenditures by the federal government on goods, services, and public projects, part of the country's fiscal policy.

Average Tax Rate

The proportion of the total taxable income paid in taxes, calculated by dividing the total tax amount by the total income.

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government.

Federal Income Tax

The tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.