Question

A sales team estimates that the number of new phones they will sell is a function of the price that they set. They estimate that if they set the price at x dollars, they will sell f(x)=2160−9x phones. Therefore, the company's revenue is x⋅(2160−9x). Find the price x which will maximize the company's revenue.

Answer 1

Answer:

120

Step-by-step explanation:

Answer 2

The price x which will maximize the company's revenue is 240

• Price of the good = x

• Number of goods sold = 2160 - 9x

Revenue = Price × Quantity

= x( 2160 - 9x)

= 2160x - 9x²

Therefore, the price x which will maximize the company's revenue will be:

2160x - 9x² = 0

Collect like terms

9x² = 2160x

9x = 2160

Divide both side by 9

9x/9 = 2160/9

x = 240

In conclusion, the price x which will maximize the company's revenue is 240.

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