the Viling Boat's 34-ft notes the number of yachts and p is the prie Find the revenue function R(z) = rp and of yacht.
the Viling Boat's 34-ft notes the number of yachts and p is the prie Find the revenue function R(z) = rp and of yacht.
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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![6. The demand function for the Viking Boat's 34-ft Sundancer yacht is p- 200-0.01zIn z, where
z denotes the number of yachts and p is the price per yacht in hundreds of dollars.
(a) Find the revenue function R(x) = rp and the marginal revenue function for this model
of yacht.
(b) Use the result of part (a) to estimate the revenue realized from the sale of the 501-st
34-ft Sundarce yacht. (Note: This is an estimate, so be careful to se the correct function
from part (a) and to evaluate it at the correct value of r.)
Note: If you compute the cract revenue lrom the sale of the 501st vacht, vou will find
R(501)-R(500) = [200(501)-0.01(5501)'In(501)]-[200(500)-001(500) In(500)] 132.77676,
so that the actual revenuoe is $13277.68
(c) Is the approKinalon gooxi?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa9953607-b507-4ba0-a1b4-642872b5a90b%2F8bcba6a7-b748-4e1e-8c49-0abe1ad2643c%2Ffb5vxe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6. The demand function for the Viking Boat's 34-ft Sundancer yacht is p- 200-0.01zIn z, where
z denotes the number of yachts and p is the price per yacht in hundreds of dollars.
(a) Find the revenue function R(x) = rp and the marginal revenue function for this model
of yacht.
(b) Use the result of part (a) to estimate the revenue realized from the sale of the 501-st
34-ft Sundarce yacht. (Note: This is an estimate, so be careful to se the correct function
from part (a) and to evaluate it at the correct value of r.)
Note: If you compute the cract revenue lrom the sale of the 501st vacht, vou will find
R(501)-R(500) = [200(501)-0.01(5501)'In(501)]-[200(500)-001(500) In(500)] 132.77676,
so that the actual revenuoe is $13277.68
(c) Is the approKinalon gooxi?
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