I need help on this problem, can someone explain it
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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I need help on this problem, can someone explain it
![Suppose that we're making and selling some widget and the revenue (in dollars) when making \( x \) widgets is
\[
R(x) = 7(12x + 1)^{0.25} - 7.
\]
What are the average revenue and marginal average revenue functions, and what is the marginal average revenue at a given production level?
The average revenue function is \( \bar{R}(x) = \_\_\_\_ \).
The marginal average revenue function is \( \bar{R}'(x) = \_\_\_\_ \).
If we're already making 84 widgets, by how much will our average revenue per widget change if we increase production by one unit? $\_\_\_\_$ (round to 4 decimal places if rounding is needed).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3667c4e2-dfba-4518-b7aa-6b434ae74977%2Fa5124bf3-0569-430e-ac11-488955d707fa%2Fnoiijrn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose that we're making and selling some widget and the revenue (in dollars) when making \( x \) widgets is
\[
R(x) = 7(12x + 1)^{0.25} - 7.
\]
What are the average revenue and marginal average revenue functions, and what is the marginal average revenue at a given production level?
The average revenue function is \( \bar{R}(x) = \_\_\_\_ \).
The marginal average revenue function is \( \bar{R}'(x) = \_\_\_\_ \).
If we're already making 84 widgets, by how much will our average revenue per widget change if we increase production by one unit? $\_\_\_\_$ (round to 4 decimal places if rounding is needed).
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