The management of Lorimar Watch Company has determined that the daily marginal revenue function associated with producing and selling their travel clocks is given by
R'(x) = −0.002x + 7,
where x denotes the number of units produced and sold and
R'(x)
is measured in dollars/unit.
(a)
Determine the revenue function R(x) associated with producing and selling these clocks.
R(x) =

(b)
What is the demand equation that relates the wholesale unit price p with the quantity of travel clocks demanded?
p =