A company selling widgets has found that the number of items sold, x, depends upon the price, p at which 70000 they're sold, according the equation a = (0.6p + 1) Due to inflation and increasing health benefit costs, the company has been increasing the price by $0.03 per month. Find the rate at which revenue is changing when the company is selling widgets at $3 each. Revenue is decreasing by dollars per month Hint: Give your answer as a positive value.

A company selling widgets has found that the number of items sold, x, depends upon the price, p at which 70000 they're sold, according the equation a = (0.6p + 1) Due to inflation and increasing health benefit costs, the company has been increasing the price by $0.03 per month. Find the rate at which revenue is changing when the company is selling widgets at $3 each. Revenue is decreasing by dollars per month Hint: Give your answer as a positive value.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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