1. Suppose Total Revenue for a product is defined R(x) = 64x - 4x ^2 , where x is the number of units sold:
(a) Using your knowledge of Quadratic functions, determine if Revenue will reach a maximum or minimum value. Justify your answer by referencing & demonstrating that the requirements are satisfied.
(b) How may units must be produced and sold to maximize the total revenue? What is the maximum total revenue? Show all calculations!
(c) Sketch a graph of the total revenue, indicating appropriate x&y scales. Be sure to label the total revenue function and vertex as an ordered pair on your graph. Accuracy counts!