Solve the problem.
-The price p and the quantity x sold of a certain product obey the demand equation: $$p = - \frac { 1 } { 5 } x + 500 , \{ x \mid 0 \leq x \leq 500 \}$$ What is the revenue to the nearest dollar when 400 units are sold?
A) $10,000
B) $250,000
C) $232,000
D) $168,000

Question

Quizplus · Accepted Answer

Revenue is calculated as the product of price and quantity sold. Substituting $x = 400$ into the demand equation gives $p = -\frac{1}{5}(400) + 500 = -80 + 500 = 420$. Therefore, revenue for 400 units is $400 \times 420 = 168,000$.

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Solve the Problem $p = - \frac { 1 } { 5 } x + 500 , \{ x \mid 0 \leq x \leq 500 \}$