The revenue, in thousand rupees, obtained by selling a product at a price of ₹ per…
MATHEMATICS · Multi-part · AP · Calculus AB · Analytical Applications of Differentiation · Analytical Applications of Differentiation
Problem
The revenue, in thousand rupees, obtained by selling a product at a price of ₹p per unit is given by R(p)=1000p−50p2 for 0≤p≤20.
(i) Find the critical price(s) of R in the given interval.
(ii) Determine the subintervals of the given domain on which the revenue increases with price.
(iii) If the current price is ₹8, should the firm raise the price or lower it to increase revenue? Give one reason.