Yorktown Technology
The purpose of this paper is to gather data for this company that wants to know how to find the price, revenue, and marginal revenue of their shoes through the given equation. After a series of plugging in formulas, and solving equations you will find solutions. In order to find out the revenue you have to know the price. So the first step towards finding out the price is to solve the first given equation. After finding the price for their company’s shoes the next step would be to find the company’s revenue. Then finding the marginal revenue will follow.
After following all the necessary steps to solve these equations; the company then wants to find the Marginal revenue at a production level of (1600, and 2,500) pairs of shoes and then interpreting the results. Then by substituting the numbers of production level in for x in the Marginal revenue equation. This will show the company the numbers of production level that they can expect. The equation that was related to the problem is {x=4000-40p}. In order to find the price the first step: {40p} has to be added; which will place 40p on the left side of the equation. The next step is to place the x on the right side of the equation by negating x. Once (-x) has been applied the equation should look like {40p=400-x}. Then the third step would be to divide everything by 40. After dividing the equation by 40 you will find the price of the equation. The formula for the price should look like (p=100-25x).
After finding the price the company wanted to find the revenue. The formula for revenue is {R(x) =xp}.The x in xp stands for the number of retailors that are likely to buy at their set price per seat. With that given we know the formula for price; therefore we have to write the new equation like {R(x) = x(100-25x)}. After writing out the first equation\ is to distribute. The equation for revenue now would end up looking like Rx= 100x-25(squared). After finding the formula for the revenue the next thing the
After following all the necessary steps to solve these equations; the company then wants to find the Marginal revenue at a production level of (1600, and 2,500) pairs of shoes and then interpreting the results. Then by substituting the numbers of production level in for x in the Marginal revenue equation. This will show the company the numbers of production level that they can expect. The equation that was related to the problem is {x=4000-40p}. In order to find the price the first step: {40p} has to be added; which will place 40p on the left side of the equation. The next step is to place the x on the right side of the equation by negating x. Once (-x) has been applied the equation should look like {40p=400-x}. Then the third step would be to divide everything by 40. After dividing the equation by 40 you will find the price of the equation. The formula for the price should look like (p=100-25x).
After finding the price the company wanted to find the revenue. The formula for revenue is {R(x) =xp}.The x in xp stands for the number of retailors that are likely to buy at their set price per seat. With that given we know the formula for price; therefore we have to write the new equation like {R(x) = x(100-25x)}. After writing out the first equation\ is to distribute. The equation for revenue now would end up looking like Rx= 100x-25(squared). After finding the formula for the revenue the next thing the