Why is revenue a quadratic equation?
A quadratic function is a reasonable model for revenue because revenue = price · quantity. The price will be a function of the number of boxes of candy sold (this is the law of supply and demand) and thus revenue is the product of two functions of x. 1Sullivan, Precalculus: Enhanced with Graphing Utilities, p.
What are the 4 steps for solving a quadratic equation?
The four methods of solving a quadratic equation are factoring, using the square roots, completing the square and the quadratic formula.
How do you find the revenue?
Revenue (sometimes referred to as sales revenue) is the amount of gross income produced through sales of products or services. A simple way to solve for revenue is by multiplying the number of sales and the sales price or average service price (Revenue = Sales x Average Price of Service or Sales Price).
How do you find the revenue function?
1) Revenue is equal to the number of units sold times the price per unit. To obtain the revenue function, multiply the output level by the price function.
How do you make a revenue equation?
What is the equation for total revenue?
The formula to know your business’ revenue is to multiply the total amount of products or services sold by the price of those products or services.
How do you find revenue and profit functions?
Revenue Function = R( ) = 500 iii. Profit function = Revenue function – Cost function = R( ) – C( ) = (500 ) – (175 +150 ) = 500 – 175 – 150 = 325 -150 4. A company produces and sells a product and fixed costs of the company are Rs. 6,000 and variable cost is Rs.
What is the formula to solve for revenue function?
What is the revenue function?
It is called a linear cost function. Revenue Function. Revenue is the total payment received from selling a good or performing a service. The revenue function, R( ), reflects the revenue from selling “ ” amount of output items at a price of “p” per item.
How do you find the revenue function of a graph?
All you need to find the revenue function is a strong knowledge of how to find the slope intercept form when a real life situation is given. Then, you will need to use the formula for the revenue (R = x × p) x is the number of items sold and p is the price of one item.
How to find the Max revenue from the change in people?
The revenue function based on the change in people x can be written as R ( x) = ( 2400 − 100 x) ( 16 + x). Using what you know about quadratic functions, you should be able to identify the maximum. so then solve for the axis of symmetry to find max people and plug that value into the quadractic equation to determine the max revenue?
How do you find the maximum revenue for a deli?
(c) To find the number of units sold to get the maximum revenue, we should find “y” coordinate at the maximum point. when 275 units sold, we can get the maximum revenue. R (27.5) = -10 (27.5)2 + 550 (27.5) The maximum revenue is $7562.5. A deli sells 640 sandwiches per day at a price of $8 each.
How many items can you sell to make 361250 revenue?
This means that the maximum money you can make with this revenue function is 361250 and you are better off selling 4250 items to maximize your revenue. Check out some of our top basic mathematics lessons. I am at least 16 years of age. I have read and accept the privacy policy.