if the demand function is x=502p/3 find the revenue function also find the revenue

Question

please give the full calculation of this answer if the demand function is x=502p/3 find the revenue function also find the revenue when the demand is of 10 units

Answer 1

To meet the demand, x units need to be sold at price p, so the revenue function is r=xp=502p^2/3. When x=10, p=30/502=15/251, so r=10*15/251=150/251=0.5976 or 502(15/251)^2/3.