Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p = 300 − 0.01x ln(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars.
Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p = 300 − 0.01x ln(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars.
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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Marginal Revenue
The demand function for a certain boat company's 34 ft Sundancer yacht isp = 300 − 0.01x ln(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) =
R'(x) =
(b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 425th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.)
$_________
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