How To Find Total Revenue Function

To find p use x 50p 8500 to solve for p.

How to find total revenue function. Total revenue price x quantity. This video overviews the concept of total revenue. Divide both sides by 50. For example you could write something like p 500 150q.

I attached my work can anyone tell me what im doing wrong. Revenue sometimes referred to as sales revenue is the amount of gross income produced through sales of products or services. X 8500 50p. Its telling me to find the rate where the total revenue changes at 20 items.

X 50p 8500 is the demand equation and it depends on the price. Revenue is the product of price times the number of units sold. Khan academy total revenue and elasticity part of a larger course on microeconomics. Total revenue 20 x 400 8000.

A simple way to solve for revenue is by multiplying the number of sales and the sales price or average service price revenue sales x average price of service or sales price. Say that you have a cost function that gives you the total cost c x of producing x items shown in the figure below. X 8500 50p 8500 8500. Im assuming that they are asking for the derivative and plug in the items.

Units are selling at 20 per unit and 400 sell. Write a formula where p equals price and q equals demand in the number of units. Total revenue is 8000. But the answer is completely different.

To find the revenue function use r x p. Marginal cost marginal revenue and marginal profit all involve how much a function goes up or down as you go over 1 to the right this is very similar to the way linear approximation works.