Price function with quantity, price, and revenue

label Calculus
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schedule 1 Day
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BoxedNGone.com truck rentals calculates that its price function is 

p(x) = 120 − 2x,
 where p is the price (in dollars) at which exactly x trucks will be rented per day. Find the number of trucks that BoxedNGone should rent and the price it should charge to maximize revenue. Also find the maximum revenue.
Oct 9th, 2015

Thank you for the opportunity to help you with your question!

Revenue = price * quantity of trucks
 Revenue R= x(120 − 2x) = 120 - 2x^2
 Max revenue R' =0
 R'=120-4x
 0=120-4x 
120/4 = x
 number of trucks x= 30
 Price = 120 - 2x = 120-60 = 60
 Max Revenue = 60 *30 = 1800
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Oct 9th, 2015

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Oct 9th, 2015
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