87. Revenue. (A) Using the price-demand function p(x) = 75 - 3x 1 ≤ x ≤ 20 from Problem 85, write the company's revenue function and indicate its domain. (B) Complete Table 10, computing revenues to the nearest million dollars. Table 10 Revenue x (millions) 1 48262 12 16 20 R(x) (million $) 72 (C) Plot the points from part (B) and sketch a graph of the revenue function using these points. Choose millions for the units on the horizontal and vertical axes.
87. Revenue. (A) Using the price-demand function p(x) = 75 - 3x 1 ≤ x ≤ 20 from Problem 85, write the company's revenue function and indicate its domain. (B) Complete Table 10, computing revenues to the nearest million dollars. Table 10 Revenue x (millions) 1 48262 12 16 20 R(x) (million $) 72 (C) Plot the points from part (B) and sketch a graph of the revenue function using these points. Choose millions for the units on the horizontal and vertical axes.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
I need question 87 answered and I provided the previous information needed from question 85
![85. Price-demand. A company manufactures memory chips for
microcomputers. Its marketing research department, using
statistical techniques, collected the data shown in Table 8,
where p is the wholesale price per chip at which x million
chips can be sold. Using special analytical techniques (re-
gression analysis), an analyst produced the following price-
demand function to model the data:
p(x) = 75 - 3x
1≤x≤ 20
Table 8 Price-Demand
x (millions)
I
4
9
14
20
p($)
72
63
48
33
15](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe88a8cea-da71-40ab-aaed-a0e0afa0772e%2F22c71ad1-fe3f-4da6-96b8-1e44c9384579%2Fb5qo6uo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:85. Price-demand. A company manufactures memory chips for
microcomputers. Its marketing research department, using
statistical techniques, collected the data shown in Table 8,
where p is the wholesale price per chip at which x million
chips can be sold. Using special analytical techniques (re-
gression analysis), an analyst produced the following price-
demand function to model the data:
p(x) = 75 - 3x
1≤x≤ 20
Table 8 Price-Demand
x (millions)
I
4
9
14
20
p($)
72
63
48
33
15
![87. Revenue.
(A) Using the price-demand function
p(x) = 75 - 3x 1≤x≤ 20
from Problem 85, write the company's revenue function
and indicate its domain.
(B) Complete Table 10, computing revenues to the nearest
million dollars.
Table 10 Revenue
x (millions)
1
4
∞
12
16
20
R(x) (million $)
72
(C) Plot the points from part (B) and sketch a graph of the
revenue function using these points. Choose millions for
the units on the horizontal and vertical axes.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe88a8cea-da71-40ab-aaed-a0e0afa0772e%2F22c71ad1-fe3f-4da6-96b8-1e44c9384579%2F5nq25g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:87. Revenue.
(A) Using the price-demand function
p(x) = 75 - 3x 1≤x≤ 20
from Problem 85, write the company's revenue function
and indicate its domain.
(B) Complete Table 10, computing revenues to the nearest
million dollars.
Table 10 Revenue
x (millions)
1
4
∞
12
16
20
R(x) (million $)
72
(C) Plot the points from part (B) and sketch a graph of the
revenue function using these points. Choose millions for
the units on the horizontal and vertical axes.
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