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a store has been selling 200 dvd burners sold per week at 550 each. a market survey indicates that for each $ 40 rebate offered to buyers, the number of units sold will increase by 80 a week. find the demand function and the revenue function. how large a rebate should the store offer to maximize its revenue?

Sagot :

According to the demand and revenue functions, the retailer should provide a 125 dollar rebate to optimize income.

What does "demand function" mean?

Request Action. A demand function is described by the equation p=f(x), p = f (x), where p represents the unit price and x represents the quantity in question. A demand function is typically characterized as a decreasing function of x, meaning that it gets smaller as x grows.

What makes demand function crucial?

The relationship between a commodity's quantity desired by consumers and its price is represented by the demand function. Probably the most crucial instruments employed by economists are these procedures.

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