The revenue function is given by $R(x) = 100x – x^2 – x^3$. Find the demand function.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → $P(x)=100−x−x^2$
If $₹p$ is the price per unit, then
total revenue = $R(x) = px$
$⇒ px = 100x - x^2-x^3$ (given)
$⇒ p = 100-x-x^2$.
The demand function = $100-x-x^2$.