Question

A store selling art supplies finds that it can sell x sketch pads per week at p dollars each, according to the formula x=800−400p. Write formulas for R(p) and R(x). Then find the revenue obtained by selling the pads for $1.60 each.

Answer 1

Given,

A store selling art supplies find that it can sell x sketch pads per week at p dollars each,

Formula,

x = 800-400p

R(p) : Revenue in terms of selling price of pads

R(p) = Cost of each pad X Number of pads

Number of pads = 800-400p

R(x) : Revenue in terms of number of sketch pads

R(x) = Cost of each pad X Number of pads

Given that selling price of each pad is $1.60

Number of sketch pads x = 800-400p

x = 800-400(1.60)

x = 800-640

x = 160

Number of pads are 160

Revenue = 160(1.6)

= $ 256

Therefore,

Revenue = $256