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Discuss the demand for the cordless phones

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Reference no: EM131560861

Question: DEMAND FOR CORDLESS PHONES The marketing department of Telecon has determined that the demand for their cordless phones obeys the relationship

p = -0.02x + 600          (0 ≤ x ≤ 30,000)

where p denotes the phone's unit price (in dollars) and x denotes the quantity demanded.

a. Find the revenue function R.

b. Find the marginal revenue function R'.

c. Compute R'(10,000) and interpret your result.

Reference no: EM131560861

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