Revenue
a small business assumes that the demand function for one of its new products can be modeled by p = cekx.
when p = $45, x = 1000 units, and when p = $40, x= 1200 units.
(a) solve for c and k in the model.
(b) find the values of x and p that will maximize the revenue for this product.

Step-by-step explanation:

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

Substitute  the given values for p and x to get two equations in c and k

Dividing on by other we get

Substitute value of k in any one equation

b) Revenue of the product is demand and price

i.e. R(x) = p*x =

Use Calculus derivative test to find max Revenue

R'(x) =

EquateI derivative to 0

1-0.000589x =0

x = 1698.037

When x = 1698 and p = 16.56469

bn,mn,n.vn.

step-by-step explanation:

can you put the picture up?

step-by-step explanation: