The demand equation for a product is where is the price per unit and is the number of units sold.The total revenue for selling units is given by How many units must be sold to produce a revenue of $45,000?
A) 6000 units
B) 3000 units
C) 9000 units
D) 12,000 units
E) 15,000 units

Question

The demand equation for a product is  where  is the price per unit and  is the number of units sold.The total revenue  for selling  units is given by  How many units must be sold to produce a revenue of $45,000?
A) 6000 units 
B) 3000 units 
C) 9000 units 
D) 12,000 units 
E) 15,000 units

Quizplus · Accepted Answer

We are given the demand equation:

Q = 11ea89fe_4b01_5b2e_9fff_596be13c5577_TB2036_11

We are also given the total revenue equation:

R = PQ = 11ea89fe_4b01_a953_9fff_81f840fa7c66_TB2036_11

We need to find the value of Q that will give us R = $45,000. We can set the total revenue equation equal to $45,000 and solve for Q:

$45,000 = 11ea89fe_4b01_5b2e_9fff_596be13c5577_TB2036_11 * Q

Q = $45,000 / 11ea89fe_4b01_5b2e_9fff_596be13c5577_TB2036_11

Q = 3000 units

Therefore, the answer is B) 3000 units.

The Demand Equation for a Product Is Where