Marginal Revenue for Producing Loudspeakers The management of Acrosonic plans to market the ElectroStat, an electrostatic speaker system. The marketing department has determined that the demand for these speakers is represented by the following function, where p denotes the speaker's unit price (in dollars) and x denotes the quantity demanded. Find the following functions (in dollars), find the value (in dollars) and interpret your results. p=0.02x + 750 (0 ≤ x ≤ 20,000) (a) Find the revenue function R. R(x) = (b) Find the marginal revenue function R'(x). R'(x) = (c) Compute the following value. R'(7,400) = Interpret your results.
Marginal Revenue for Producing Loudspeakers The management of Acrosonic plans to market the ElectroStat, an electrostatic speaker system. The marketing department has determined that the demand for these speakers is represented by the following function, where p denotes the speaker's unit price (in dollars) and x denotes the quantity demanded. Find the following functions (in dollars), find the value (in dollars) and interpret your results. p=0.02x + 750 (0 ≤ x ≤ 20,000) (a) Find the revenue function R. R(x) = (b) Find the marginal revenue function R'(x). R'(x) = (c) Compute the following value. R'(7,400) = Interpret your results.
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 71E
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![Marginal Revenue for Producing Loudspeakers The management of Acrosonic plans to market the ElectroStat, an electrostatic speaker system. The marketing department has
determined that the demand for these speakers is represented by the following function, where p denotes the speaker's unit price (in dollars) and x denotes the quantity demanded. Find the
following functions (in dollars), find the value (in dollars) and interpret your results.
p = -0.02x + 750 (0 ≤ x ≤ 20,000)
(a) Find the revenue function R.
R(x) =
=
(b) Find the marginal revenue function R'(x).
R'(x) =
(c) Compute the following value.
R'(7,400) =
Interpret your results.
When the level of production is
units, the production of the next speaker system will bring an additional revenue of
dollars.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F67fbd5d8-0948-4b18-8071-fc784645c75f%2F693927ad-2a5f-42d6-b70c-ffec81127c0b%2Fsl6jpx_processed.png&w=3840&q=75)
Transcribed Image Text:Marginal Revenue for Producing Loudspeakers The management of Acrosonic plans to market the ElectroStat, an electrostatic speaker system. The marketing department has
determined that the demand for these speakers is represented by the following function, where p denotes the speaker's unit price (in dollars) and x denotes the quantity demanded. Find the
following functions (in dollars), find the value (in dollars) and interpret your results.
p = -0.02x + 750 (0 ≤ x ≤ 20,000)
(a) Find the revenue function R.
R(x) =
=
(b) Find the marginal revenue function R'(x).
R'(x) =
(c) Compute the following value.
R'(7,400) =
Interpret your results.
When the level of production is
units, the production of the next speaker system will bring an additional revenue of
dollars.
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