A store has determined that the number of Blu-ray movies sold monthly is approximately n(x) = 6250(0.931*) movies where x is the average price in dollars. (a) Write the function for the model giving revenue in dollars, where x is the average price in dollars. R(x) = dollars (b) If each movie costs the store $10.00, write the function for the model that gives profit in dollars, where x is the average price in dollars. P(x) = dollars (c) Complete the table. (Round your answers to three decimal places.) Rates of Change of Revenue and Profit Rate of change of revenue (dollars per dollar) Price $13 $14 $20 $21 $22 Rate of change of profit (dollars per dollar) (d) What does the table indicate about the rate of change in revenue and the rate of change in profit at the same price? There is a range of prices beginning near $14 for which the rate of change of revenue is ---Select--- revenue is ---Select--- while the rate of change of profit is ---Select--- (profit is ---Select---

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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A store has determined that the number of Blu-ray movies sold monthly is approximately
n(x) = 6250(0.931*) movies
where x is the average price in dollars.
(a) Write the function for the model giving revenue in dollars, where x is the average price in dollars.
R(x) =
dollars
(b) If each movie costs the store $10.00, write the function for the model that gives profit in dollars, where x is the average price in dollars.
P(x) =
dollars
(c) Complete the table. (Round your answers to three decimal places.)
Rates of Change of Revenue and Profit
Rate of change
of revenue
(dollars per dollar)
Price
$13
$14
$20
$21
$22
Rate of change
of profit
(dollars per dollar)
(d) What does the table indicate about the rate of change in revenue and the rate of change in profit at the same price?
There is a range of prices beginning near $14 for which the rate of change of revenue is ---Select---
revenue is -Select--- ✓
while the rate of change of profit is ---Select---
profit is ---Select---
Transcribed Image Text:A store has determined that the number of Blu-ray movies sold monthly is approximately n(x) = 6250(0.931*) movies where x is the average price in dollars. (a) Write the function for the model giving revenue in dollars, where x is the average price in dollars. R(x) = dollars (b) If each movie costs the store $10.00, write the function for the model that gives profit in dollars, where x is the average price in dollars. P(x) = dollars (c) Complete the table. (Round your answers to three decimal places.) Rates of Change of Revenue and Profit Rate of change of revenue (dollars per dollar) Price $13 $14 $20 $21 $22 Rate of change of profit (dollars per dollar) (d) What does the table indicate about the rate of change in revenue and the rate of change in profit at the same price? There is a range of prices beginning near $14 for which the rate of change of revenue is ---Select--- revenue is -Select--- ✓ while the rate of change of profit is ---Select--- profit is ---Select---
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