Solve the Problem $p$ And $x$ , the Quantity of a Certain Product Sold, Obey the Quantity

question 194

Essay

Solve the problem.
-The price $p$ and $x$ , the quantity of a certain product sold, obey the demand equation
$p = - \frac { 1 } { 10 } x + 100 , \{ x \mid 0 \leq x \leq 1000 \}$
a) Express the revenue R as a function of x.
b) What is the revenue if 450 units are sold?
c) Graph the revenue function using a graphing utility.
d) What quantity x maximizes revenue? What is the maximum revenue?
e) What price should the company charge to maximize revenue?

Recognize the role of the highest appellate court in a state.

Describe the jurisdiction and responsibilities of different types of courts for specific cases.

Understand the concept of appellate jurisdiction.

Familiarize with the number of U.S. courts of appeals in the federal court system.

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Definitions:

Profit-Maximizing

The process or goal of a firm to adjust output and pricing to achieve the highest possible profit.

Marginal Revenue

The increased income derived from selling an additional unit of a product or service.

Pure Monopolist

A single seller in a market with no close substitutes for the product or service, having complete control over its price.

Monopoly Output

The quantity of goods or services produced by a monopoly firm, which is determined by the intersection of the marginal cost and marginal revenue curves.