The marketing department at XYZ Company has discovered that when Product. ABC is sold at the price of p dollars per unit, number x of Product ABC sold is provided by demand equation x = 200 - 10p.
a) Determine model that expenses revenue R as the function of price p. (Note that R = zp, unit price times number of units sold) b) Find optimal price, what unit price maximizes revenue? Compute the maximum revenue?