The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. Here, price can vary between $10 and $50.
Question 1: How many units can be sold at the $10 price? How many can be sold at the $50 price?
Question 2: Model the expression for total revenue.
Question 3: Consider prices of $20, $30, and $40. Which price alternative will maximize total revenue? What are the values for demand and revenue at this price?