If the demand function for the product of a firm is , find the output level that maximizes total revenue.
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UoH 2021 Question 76: Single-variable optimisation
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Plain-text version
If the demand function for the product of a firm is p = √(1350 - 6q), find the output level that maximizes total revenue. (A) q = 1350 (B) q = 150 (C) q = 225 (D) q = 36.74
Also written as: If the demand function for the product of a firm is p = sqrt(1350 - 6q), find the output level that maximizes total revenue.
Single-variable optimisation has come up 37 times in 6 exams since 2010.
What this question tests
This question is on Applied optimisation, part of Single-variable optimisation in Mathematics.
Maximising profit, revenue or area and minimising cost or time in applied settings.
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