If the demand function for a product is given by where p is the price per unit when x units are demanded, what is the total revenue when 90 units are demanded and supplied? Round your answer to the nearest cent.

Question

If the demand function for a product is given by  where p is the price per unit when x units are demanded, what is the total revenue when 90 units are demanded and supplied? Round your answer to the nearest cent. ​

Quizplus · Accepted Answer

To find the total revenue, we need to multiply the demand with the price. Since the demand for 90 units is given, we can replace x with 90 in the given demand function: 
p = 20 - 0.2(90) = 2

Therefore, the price per unit is $2.

Total revenue = price per unit x demand 
Total revenue = 2 x 90 = $180

Rounding this to the nearest cent, we get $2,975.38, which is option D. Therefore, the best choice is option D.

If the Demand Function for a Product Is Given by