Solve the Problem $$p = - 10 x + 240 , \quad 0 \leq x \leq 24$$

question 248

Multiple Choice

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

• A) $6
• B) $18
• C) $14.4
• D) $12

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Definitions:

Short-Lived

Refers to something that lasts for only a brief period.

Intense

Characterized by a high degree of emotion, energy, or activity; often used to describe situations or feelings that are powerful and extreme.

Particular Event

A specific occurrence or happening, distinct from other events.

Oligopoly

A market structure in which a few large firms dominate a market.