Explanation Given: Revenue generated is related to the amount x spent on advertising by the following equation; R ( x ) = − 3.21 x 3 + 62.14 x 2 + 172.92 x + 48.65 ; ( 0 < x ≤ 14 ) Calculation: The point of diminishing returns occur at the inflection point. Therefore in order to determine the diminishing point, the inflection point should be determined. R ( x ) = − 3.21 x 3 + 62.14 x 2 + 172.92 x + 48.65 ; ( 0 < x ≤ 14 ) Do first derivative of the function. R ′ ( x ) = − 9.63 x 2 + 124.28 x + 172.92 Do second derivative of the function

11th Edition

ISBN: 8220101336323

Author: MULLINS

Publisher: PEARSON

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 12.2, Problem 58E

To determine

To calculate: The point of diminishing returns for the revenue generated from cattle farming.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 12.2, Problem 57E

Chapter 12.2, Problem 59E

Students have asked these similar questions

Sarah is attempting to find the height of a tree by using a mirror. By the laws of physics she knows that the angle of incidence is congruent to the angle of reflection (these are marked in red on the diagram). Explain why the two triangles are similar and if she knows her height and the distance from the mirror to her feet and also the distance from the mirror to the tree how could she calculate the height of the tree?

Let Y be a continuous RV with PDF otherwise Find the CDF, Fry), of Y . Find an expression for pth, p € (0, 1), quantile of the distribution. Find E(Y) and V(Y). Find E(-2Y + 1) and V(-3Y - 2). Find E(Y3).

Provethat a) prove that for any irrational numbers there exists? asequence of rational numbers Xn converg to S. b) let S: RR be a sunctions-t. f(x)=(x-1) arc tan (x), xe Q 3(x-1) 1+x² x&Q Show that lim f(x)= 0 14x C) For any set A define the set -A=y

Chapter 12 Solutions

EBK MATHEMATICS WITH APPLICATIONS IN TH

Ch. 12.1 - Checkpoint 1 For what values of x is the function...Ch. 12.1 - Checkpoint 2 Find all intervals on which is...Ch. 12.1 - Checkpoint 3 Identity the x-values of all points...Ch. 12.1 - Checkpoint 4 Find the critical numbers for each of...Ch. 12.1 - Prob. 5CP Ch. 12.1 - Prob. 6CP Ch. 12.1 - Checkpoint 7 Find the locations of the local...Ch. 12.1 - Prob. 8CP Ch. 12.1 - Checkpoint 9 If a sales function is given by...Ch. 12.1 - Prob. 1E

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.