Maximizing Revenue of a Remote-Controlled Car

A toy company is conducting a market research study to determine the price optimization for one of its new products, a remote-controlled car. The company estimates that the weekly demand for the toy, in units, can be modeled by the equation: $$ D(p) = 120 - 4p $$, where $$ p $$ is the price of the toy in dollars.

To find the total revenue, $$ R $$, generated from sales of the toy at price $$ p $$, use the formula: $$ R(p) = p imes D(p) $$.

What price should the company set to maximize its total revenue?