Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p= 3000.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. R(x) = 300x -0.01x²ln(x) ✔ Exactly! R'(x) = -0.01x -0.02x ln(x) + 300 ✓ Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) $
Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p= 3000.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. R(x) = 300x -0.01x²ln(x) ✔ Exactly! R'(x) = -0.01x -0.02x ln(x) + 300 ✓ Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) $
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
Related questions
Question
![Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is
p = 300 0.01x In(x)
where x denotes the number of yachts and p is the price per yacht in hundreds of dollars.
(a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht.
300x -0.01x²ln(x)
-0.01x -0.02x ln(x) + 300
R(x)
R'(x)
=
=
Exactly!
Exactly!
(b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.)
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2df32857-c33f-4a66-8453-66b5e9cee276%2F8f76c7a2-101c-4fb1-a642-fbd15e3dae5d%2F6f673pg_processed.png&w=3840&q=75)
Transcribed Image Text:Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is
p = 300 0.01x In(x)
where x denotes the number of yachts and p is the price per yacht in hundreds of dollars.
(a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht.
300x -0.01x²ln(x)
-0.01x -0.02x ln(x) + 300
R(x)
R'(x)
=
=
Exactly!
Exactly!
(b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.)
$
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![Big Ideas Math A Bridge To Success Algebra 1: Stu…](https://www.bartleby.com/isbn_cover_images/9781680331141/9781680331141_smallCoverImage.jpg)
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781305115545/9781305115545_smallCoverImage.gif)
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![Big Ideas Math A Bridge To Success Algebra 1: Stu…](https://www.bartleby.com/isbn_cover_images/9781680331141/9781680331141_smallCoverImage.jpg)
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781305115545/9781305115545_smallCoverImage.gif)
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning