A sporting goods wholesaler finds out that when the price of product is $25, the company sells 500 units per week. When the price is $30, the number sold per week reduces to 460 units.
a) Determine the demand, q, as a function of price, p, supposing that the demand curve is linear.
b) Employ your answer to part a to write down revenue as a function of price. c) Graph the revenue function in part b. Find the price that maximizes revenue. What is the revenue at this price?