Bob R.
asked • 05/16/21A Company sells a specific bicycle for (x) dollars and predicts that the revenue from selling the bicycles is given by f(x)=1520x-4x^2. Find the price (x) that will maximize the company's revenue.
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1 Expert Answer
Billy M. answered • 05/16/21
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Need a math tutor? I am a local Albany State Univ. math tutor
F(x)=-4x^2+1520x
p(x)=-b/2a
P(x)= -1520/(-2*-4)= $190.00 per bike
Max revenue
f(190)=-4(190)^2+1520(190)= $144,400.00
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Chance V.
The answer can be found by calculating the derivative of the function and then setting it to zero and solving for x. Not sure if you know about derivatives yet , as this is a calculus concept. If you'd like me to post the solution using the calculus approach please let me know!05/16/21