(Marginal Analysis). A retailer has determined that the monthly sales of a watch are 150 units when the price is $50, but decrease to 120 units when the price is $60. Assume that the demand is a linear function of the price.(4a) Find the demand as a linear function of the price(4b) Find the revenue R as a function of x(4c) Approximate the change in revenue for a one-unit increase in sales when x = 141 Exercise 4 (Marginal Analysis). A retailer has determined that themonthly sales of a watch are 150 units when the price is $50, but decreaseto 120 units when the price is $60. Assume that the demand is a linearfunction of the price(4a) Find the demand as a linear function of the price(4b) Find the revenue R as a function of x(4c) Approzimate the change in revenue for a one-unit increase in saleswhen I = 141

The quantity demanded of the good refers to the amount of commodity the consumer of the good is…

Answered: (Marginal Analysis). A retailer has…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(Marginal Analysis). A retailer has determined that the monthly sales of a watch are 150 units when the price is $50, but decrease to 120 units when the price is $60. Assume that the demand is a linear function of the price.

(4a) Find the demand as a linear function of the price

(4b) Find the revenue R as a function of x

(4c) Approximate the change in revenue for a one-unit increase in sales when x = 141

Exercise 4 (Marginal Analysis). A retailer has determined that the
monthly sales of a watch are 150 units when the price is $50, but decrease
to 120 units when the price is $60. Assume that the demand is a linear
function of the price
(4a) Find the demand as a linear function of the price
(4b) Find the revenue R as a function of x
(4c) Approzimate the change in revenue for a one-unit increase in sales
when I = 141

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