Question:
The price p (in dollars) and the quantity demanded q for a particular blender are related by the demand function, q=1000?20p
i. Express the price p in terms of the demand q.
ii. Express the revenue,R(q) from the sale of q blenders (in terms of q).
iii. What interval will the domain of this revenue function span?
iv. Find the marginal revenue at a production level of 400 blenders and interpret the results.