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4. The revenue (in thousands of dollars) from producing x units of an item is R(x)=8x-0.015 x². a) Find the average rate of change of revenue when the production is increased from 1000 to 1001 units. b) Find and interpret the instantaneous rate of change of revenue with respect to the number of items produced when 1000 units are produced. (This number is called the marginal revenue at x=1000.) c) Find additional revenue if production is increased from 1000 to 1001 units. d) Compare your answers for parts (a) and (c). What do you find? How do these answers compare answer to part (b)? with your

4. The revenue (in thousands of dollars) from producing x units of an item is R(x)=8x-0.015 x². a) Find the average rate of change of revenue when the production is increased from 1000 to 1001 units. b) Find and interpret the instantaneous rate of change of revenue with respect to the number of items produced when 1000 units are produced. (This number is called the marginal revenue at x=1000.) c) Find additional revenue if production is increased from 1000 to 1001 units. d) Compare your answers for parts (a) and (c). What do you find? How do these answers compare answer to part (b)? with your

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 2E
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4. The revenue (in thousands of dollars) from producing x units of an item is R(x)=8x-0.015 x². a) Find the average rate of change of revenue when the production is increased from 1000 to 1001 units.
Transcribed Image Text:4. The revenue (in thousands of dollars) from producing x units of an item is R(x)=8x-0.015 x². a) Find the average rate of change of revenue when the production is increased from 1000 to 1001 units.
b) Find and interpret the instantaneous rate of change of revenue with respect to the number of items produced when 1000 units are produced. (This number is called the marginal revenue at x=1000.) c) Find additional revenue if production is increased from 1000 to 1001 units. d) Compare your answers for parts (a) and (c). What do you find? How do these answers compare answer to part (b)? with your
Transcribed Image Text:b) Find and interpret the instantaneous rate of change of revenue with respect to the number of items produced when 1000 units are produced. (This number is called the marginal revenue at x=1000.) c) Find additional revenue if production is increased from 1000 to 1001 units. d) Compare your answers for parts (a) and (c). What do you find? How do these answers compare answer to part (b)? with your
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