Question

5. AAA Dance Shoes makes dancing shoes with leather soles. The shoes cost $29 each to

manufacture. The fixed cost for the product line is $45,000. The company has

determined their demand function to be q=-200p+30,000, where p is the price for each

pair of shoes. What is the revenue function in terms of price? S

(10 Points)

R

200p + 915,000

O R = -200p + 30,000

O R = -200p2 + 30,000

O R = 200p2 + 870,000

Answer 1

Answer: 200p² + 870,000

Step-by-step explanation:

Revenue is calculated as price multiplied by quantity. In this case,

Price = P

Quantity (Q) = q=-200p+30,000

Revenue = p × q

Revenue = (200p + 30,000) × p

= 200p² + 30000p

= 200p² + 30000(29)

= 200p² + 870,000

The revenue function is 200p² + 870,000