A yogurt company estimates that the revenue from selling x containers of yogurt is 4.5x. Its cost, C, in dollars, for producing this # of containers of yogurt is C(s)=0.0001x^2+2x+3200. What is the selling price of a container of yogurt?
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This one I have not done the work for. Relates to my previous question.
Seems to relate to revenue formula, which is 4.5x. answer is $4.50. Explanation is the important factor here.
Total revenue is given by the formula, R = P * Q, where R is total revenue, P is price of good and Q is quantity of good sold. So comparing the equation, R = P * Q with the given R = 4.5 x, where x is the quantity of the yogurt sold. x is equivalent to Q, thus 4.5 is the selling price of the yogurt. Hope this explanation is good enough.