Generate the highest possible revenue

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Reference no: EM131350218

Business Joaquin and Marva are selling lemonade. The higher the price they charge for a cup of lemonade, the fewer cups they sell. They have found that when they charge p cents for a cup of lemonade, they sell 100 2p cups in a day.

a. Find a formula for the function r(p) that gives their total daily revenue.

b. Find the price that Joaquin and Marva should charge to generate the highest possible revenue.

Reference no: EM131350218

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