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Business Analytics · End Term · 7 Aug 2022 · May 2022 term · Set QPD1

Question 10: You have estimated the demand to follow the following re…

Question 10

+2 marksNumerical answer

You have estimated the demand to follow the following relationship: D(p)=100 - 20*p. Now, you intend to maximize the revenue R(p)= D(p)*p. You find the first derivative of R(p) with respect to p, equate it to 0 and find p^(*). What is the value of p^(*)?

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Correct answer: 2.5 (accepted within ±0.1)

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Question 10 of 27 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 7 Aug 2022, in the May 2022 term (IIT M FOUNDATION DIPLOMA ENDTERM QPD1 07 Aug 2022 IBA NS). It carries 2 marks.

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