It took James 5h to paint an 8ft by 24ft wall. At this rate, how long would it take him to paint a 12ft by 36ft wall
1 answer:
You might be interested in
Answer:
Marginal revenue = R'(Q) = -0.6 Q + 221
Average revenue = -0.3 Q + 221
Step-by-step explanation:
As per the question,
Functions associated with the demand function P= -0.3 Q + 221, where Q is the demand.
Now,
As we know that the,
Marginal revenue is the derivative of the revenue function, R(x), which is equals the number of items sold,
Therefore,
R(Q) = Q × ( -0.3Q + 221) = -0.3 Q² + 221 Q
∴ Marginal revenue = R'(Q) = -0.6 Q + 221
Now,
Average revenue (AR) is defined as the ratio of the total revenue by the number of units sold that is revenue per unit of output sold.
Where Total Revenue (TR) equals quantity of output multiplied by price per unit.
TR = Price (P) × Total output (Q) = (-0.3Q + 221) × Q = -0.3 Q² + 221 Q
∴ Average revenue = -0.3Q + 221