The Relationship Between the Number of Calculators a Company

question 60

Multiple Choice

The relationship between the number of calculators a company sells each day and the price p of each calculator is given by the equation . Choose the correct graph of the revenue equation , the maximum revenue figure and the price that will obtain the maximum revenue figure.

• A) Maximum R = $5,760.00 when p = $8.00
• B) Maximum R = $8,122.50 when p = $9.50
• C) Maximum R = $6,502.50 when p = $8.50
• D) Maximum R = $5,062.50 when p = $7.50

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Definitions:

Gold Prices

The cost per ounce or gram of gold in financial markets, which fluctuates based on supply and demand, market conditions, and global economic factors.

Gold Mine

A site for extraction of gold ore or minerals from the ground with the objective of producing gold through mining operations.

Inflation

The velocity at which the cost of goods and services universally goes up, reducing the buying power.

Elasticity Measures

refer to the quantitative analysis of changes in economic variables in response to changes in other variables, such as price or income.