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Rate of Change, Marginal Cost & Revenue · Question 67 of 79

Question 67

MediumOriginal question

The price at which xx units sell is p=90−3xp = 90 - 3x rupees. At what price is the total revenue greatest?

Options for question 67

Show the answer and explanation
CorrectNot quiteAnswer D

Correct answer: D

Explanation

  1. R=90x−3x2R = 90x - 3x^{2}, and R′=90−6x=0R' = 90 - 6x = 0 at x=15x = 15 units.

  2. The price then is 90−3×15=4590 - 3 \times 15 = 45 rupees.

Worth noting

15 is the number of units, not the price.

Concept
The price that maximises revenue
Typical time
90 s
Your time
—
The rule this testsMaximising profit and revenue
Practise this chapter →

Ten questions from Rate of Change, Marginal Cost & Revenue, at your own pace.

Practise this chapter →

Ten questions from Rate of Change, Marginal Cost & Revenue, at your own pace.