Question

Revenue A small business assumes that the demand function for one of its new products can...

Revenue

A small business assumes that the demand function for one of its new products can be modeled by

p = Cekx.

When p = $40, x = 800 units, and when p = $30, x = 1500 units.

(a)

Solve for C and k. (Round C to four decimal places and k to seven decimal places.)

C =
k =

(b)

Find the values of x and p that will maximize the revenue for this product. (Round x to the nearest integer and p to two decimal places.)

x = units
p = $
Math   Calculus   
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