SOLVE STEP BY STEP IN DIGITAL FORMAT+7. Suppose the manufacturer of a product knows that, given the demand for this product, his revenueis given by R(x) = 1500x -0.02x², 0≤x≤ 1000 where x is the number of units sold and R(x)is in dollars. Find marginal revenue at x=500.

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Answered: 7. Suppose the manufacturer of a…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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Suppose there are 100 farmers each with 10 acres that overlie a common groundwater aquifer. They all have identical farmland that is more productive if wells are used to pump the groundwater for irrigation. They all face a marginal cost of $10 per well. The average productivity (in $ of crop output) of the wells of the common aquifer is given by AP = 100 – W where W is the number of wells drilled into the aquifer. 1. Now assume one farmer buys all the land – how many wells will be drilled and what will be the rent generated. A. 45; 2025 B. 90; 2025 C. 60; 1000 D. 90; 0 E. 45; 0 F. None of the above
If the marginal revenue for ski gloves is MR function. R(x) = - 12 (2x + 5)² + 20 and R(0) = 0, find the revenue
2. A student named Light happens to know that the total cost of producing a boxes x² of potato chips is given by C'(x) = +13300x + 5000 yen. The price-demand 100 function for a boxes of potato chips is p(x) = 17500 yen. Use marginals 100 to approximate the additional profit when the number of boxes of potato chips is increased from 50 to 51 boxes.

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7. Suppose the manufacturer of a product knows that, given the demand for this product, his revenue is given by R(x) = 1500x -0.02x², 0≤x≤ 1000 where x is the number of units sold and R(x) is in dollars. Find marginal revenue at x=500.