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.
What is the formula for the revenue function?
revenue function (the product of the price per unit times the number of units sold; R = P × Q) will be R = $1.5 Q, where R is the revenue and Q is the number of units sold.
How do you find the maximum revenue of a function?
Maximum Revenue 4.3 –
How do you find the revenue function from the demand equation?
Finding a Revenue Function from a Linear Demand Function
What is the formula of total revenue?
Total revenue is calculated with this formula: TR = P * Q, or Total Revenue = Price * Quantity.
What is the total revenue function?
From Wikipedia, the free encyclopedia. Total revenue is the total receipts a seller can obtain from selling goods or services to buyers. It can be written as P × Q, which is the price of the goods multiplied by the quantity of the sold goods.
How do you solve maximum revenue problems?
Maximizing Revenue Word Problem (Completing the Square