A subway train arrives at the station every 8 minutes. You have a doctor's appointment near the station, so you take the subway
1 answer:
You might be interested in
Answer:
(a)
(b)
(c)R'(5400)=$394
Step-by-step explanation:
Given that x is the quantity demanded and the speaker's unit price (in dollars) is p where:
p = −0.02x + 610 (0 ≤ x ≤ 20,000)
(a)Revenue function R.
Revenue = Price X Quantity Demanded
Therefore:
R(x)=xp
(b)Marginal revenue function R'(x)
If
Then, the marginal revenue function
(c)We want to compute R'(5,400)
From the above, we can infer that the revenue that will be generated on the sales of the 5401st item is $394.