Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x3+0.05x2+0.6x. Currently, Pierce sells 50 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 53 lawn chairs were sold each day? c) What is the marginal revenue when 50 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(51), R(52), and R(53).
Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x3+0.05x2+0.6x. Currently, Pierce sells 50 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 53 lawn chairs were sold each day? c) What is the marginal revenue when 50 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(51), R(52), and R(53).
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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Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x3+0.05x2+0.6x. Currently, Pierce sells 50 lawn chairs daily.
a) What is the current daily revenue?
b) How much would revenue increase if 53 lawn chairs were sold each day?
c) What is the marginal revenue when 50 lawn chairs are sold daily?
d) Use the answer from part (c) to estimate R(51), R(52), and R(53).
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