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Sagot :
Answer:
The price to make maximum revenue is 1 and the maximum revenue is 2000.
Step-by-step explanation:
Consider the provided information.
Revenue is the product of the number of sales and the sales price.
Here, [tex]p[/tex] is the price of a cookie and the number of cookies sold is [tex]x =- 2000 p + 4000[/tex].
[tex]\text{Revenue}=p(-2000 p + 4000)[/tex]
[tex]\text{Revenue}=-2000 p^2 + 4000p[/tex]
The above equation is a quadratic equation and the graph of the above equation will be a downward parabola because the coefficient of [tex]p[/tex] is negative.
The vertex(axis of symmetry) of a downward parabola has the maximum point.
The axis of symmetry is [tex]x=\frac{-b}{2a}[/tex] for the quadratic equation [tex]ax^2+bx+c=0[/tex].
By compare Revenue equation with [tex]ax^2+bx+c=0[/tex], we get:
[tex]x=p, a=-2000, b=4000 \text{ and } c=0[/tex]
Now put the respective values in the formula [tex]x=\frac{-b}{2a}[/tex] .
[tex]p=\frac{-4000}{2(-2000)}[/tex]
[tex]p=1[/tex]
So revenue will be maximum for [tex]p=1[/tex].
Now put [tex]p=1[/tex] in [tex]\text{Revenue}=-2000 p^2 + 4000p[/tex]
[tex]\text{Revenue}=-2000 (1)^2 + 4000(1)[/tex]
[tex]\text{Revenue}=-2000 + 4000[/tex]
[tex]\text{Revenue}=2000[/tex]
Hence, the price to make maximum revenue is 1 and the maximum revenue is 2000.
Maximum revenue generated = $2000
Price at which the maximum revenue is generated = $1
Maximization of the revenue:
Steps to find the maximum revenue,
- Find the equation for the revenue generated.
- Find the derivative of the expression for revenue and equate it to zero.
- Find the value of the variable and substitute it in the expression for the revenue generated.
Given in the question,
- Price of one cookie = p
- Linear relationship between the number of cookies sold 'x' and price of a cookie 'p',
x = -2000p + 4000
Expression for the revenue generated = Price of one cookie × Number of cookies sold
R = p(-2000p + 4000)
R = -2000p² + 4000p
For the maximum revenue,
"Find the derivative of the expression for revenue and equate it to zero"
R' = -4000p + 4000 = 0
4000p = 4000
p = $1
For p = 1,
R = -2000(1) + 4000
R = $2000
Therefore, for the price of one cookie as $1, maximum revenue generated will be $2000.
Learn more about the maximization here,
https://brainly.com/question/11859895?referrer=searchResults
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