The demand function for a product is p = 1000 - 2q Finding the level of production that maximizes total revenue producer, and determine that income where p is the price (indollars) per unit when q units aredemand (per week) byconsumers.
| Certified Educator
Take note that Revenue function (R(x)) is price times demand.
So, R(x) = (1000 - 2q)q = 1000q - 2q^2.
That is a quadratic function, which is in the form aq^2 + bq + c
where a < 0....
(The entire section contains 95 words.)
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