Revenue function. The weekly marginal revenue from the sale of x hair dryers is given by R ′ ( x ) = 65 − 6 ln ( x + 1 ) R ( 0 ) = 0 where R ( x ) is the revenue in dollars. Find the revenue function and the production level (to the nearest unit) for a revenue of $20,000 per week. What is the weekly revenue (to the nearest dollar) at a production level of 1,000 hair dryers per week?
Revenue function. The weekly marginal revenue from the sale of x hair dryers is given by R ′ ( x ) = 65 − 6 ln ( x + 1 ) R ( 0 ) = 0 where R ( x ) is the revenue in dollars. Find the revenue function and the production level (to the nearest unit) for a revenue of $20,000 per week. What is the weekly revenue (to the nearest dollar) at a production level of 1,000 hair dryers per week?
Solution Summary: The author calculates the revenue function and the production level for revenue of 20,000 per week and weekly revenues of 1,000 hair dryers. The marginal revenue can be written in the form of first-order ordinary differential equation.
Revenue function. The weekly marginal revenue from the sale of x hair dryers is given by
R
′
(
x
)
=
65
−
6
ln
(
x
+
1
)
R
(
0
)
=
0
where R(x) is the revenue in dollars. Find the revenue function and the production level (to the nearest unit) for a revenue of $20,000 per week. What is the weekly revenue (to the nearest dollar) at a production level of 1,000 hair dryers per week?
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.
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY