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Item # 1. The price-demand equation relating x, the number of campaign ballers sold, and p, the price of each baller (in pesos) is given by the equation p = 50 20 On the other hand, the cost function is given by C(x) = 10x + 6000. Use marginal analysis to answer the following questions. a. Express the revenue function, R, in terms of x. b. Find the marginal revenue if 250 ballers are sold. C. Approximate the revenue generated by selling the 321 st baller. d. Find the marginal profit function. e. Find P' (500) and interpret the answer. f. Determine the demand at which the seller breaks even.

Item # 1. The price-demand equation relating x, the number of campaign ballers sold, and p, the price of each baller (in pesos) is given by the equation p = 50 20 On the other hand, the cost function is given by C(x) = 10x + 6000. Use marginal analysis to answer the following questions. a. Express the revenue function, R, in terms of x. b. Find the marginal revenue if 250 ballers are sold. C. Approximate the revenue generated by selling the 321 st baller. d. Find the marginal profit function. e. Find P' (500) and interpret the answer. f. Determine the demand at which the seller breaks even.

Advanced Engineering Mathematics
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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Item # 1. The price-demand equation relating x, the number of campaign ballers sold, and p, the price of each baller (in pesos) is given by the equation p = 50 20 On the other hand, the cost function is given by C(x) = 10x + 6000. Use marginal analysis to answer the following questions. a. Express the revenue function, R, in terms of x. b. Find the marginal revenue if 250 ballers are sold. C. Approximate the revenue generated by selling the 321 st baller. d. Find the marginal profit function. e. Find P' (500) and interpret the answer. f. Determine the demand at which the seller breaks even.
Transcribed Image Text:Item # 1. The price-demand equation relating x, the number of campaign ballers sold, and p, the price of each baller (in pesos) is given by the equation p = 50 20 On the other hand, the cost function is given by C(x) = 10x + 6000. Use marginal analysis to answer the following questions. a. Express the revenue function, R, in terms of x. b. Find the marginal revenue if 250 ballers are sold. C. Approximate the revenue generated by selling the 321 st baller. d. Find the marginal profit function. e. Find P' (500) and interpret the answer. f. Determine the demand at which the seller breaks even.
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