In: Math
The total weekly revenue earned at Royal Ruby Retailers is given by
R(p) = −7/3p2 + 98p
where p is the price (in dollars) RRR charges per ruby. Use this function to determine the following.
(a) Determine the weekly revenue, to the nearest dollar, when
the price is set at $20/ruby.
$
(b) Determine the weekly revenue, to the nearest dollar, when the
price is set at $200/ruby.
$
Interpret your result.
The range of the demand function cannot realistically include p = $200. The range of the demand function includes p = $200. The domain of the demand function cannot realistically include p = $200. The domain of the demand function includes p = $200.
(c) Determine the price RRR should charge in order to obtain a
weekly revenue of $1,029.