The figure below shows cost and revenue functions for a bike rental company when it operates q bikes. Should the company add a 40thbike? How about a 95th bike? Explain using marginal revenue and marginal cost.$C(q)At q = 40 marginal revenue is lessAt q = 95 marginal revenue isA500040003000200010000q25 50 75 100 125than marginal cost, so the 40th bikeR(q)than marginal cost, so the 95th bikebe added.be added.

If marginal revenue is higher than marginal cost, your company should raise production levels to…

Answered: The figure below shows cost and revenue…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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The figure below shows cost and revenue functions for a bike rental company when it operates q bikes. Should the company add a 40th bike? How about a 95th bike? Explain using marginal revenue and marginal cost. $ C(q) 5000