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4. Suppose the demand function for a product is 'p(x) = 400-(1/10000)x*3 (in dollars). What price maximizes revenue? (Don't forget to use the sales level to compute the price.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Suppose the demand function for a product is 'p(x) = 400-(1/10000)x^3" (in dollars). What price maximizes revenue? (Don't forget to use the sales
level to compute the price.)
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Answer:" dollars

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