If the Demand Function for a Product Is Given by

question 77

Multiple Choice

If the demand function for a product is given by where p is the price per unit when x units are demanded, what is the total revenue when 90 units are demanded and supplied? Round your answer to the nearest cent. ​

• A) $5,146.82
• B) $7,318.25
• C) $199.96
• D) $2,975.38
• E) $40.66

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Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service.

Fixed Costs

Costs that remain consistent regardless of the amount of goods produced or the level of business operations, including expenses like rent, salaries, and insurance fees.

Variable Costs

Expenses that change in proportion to the level of production or sales volume.

Fixed Costs

Fixed expenses, including rent, salaries, and insurance, that are unaffected by variations in production or sales levels.