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For the price function 400 (x + 3)2 where p is in dollars and x is the number sold in thousands, use R(7) and MR(7)
For the price function 400 (x + 3)2 where p is in dollars and x is the number sold in thousands, use R(7) and MR(7) to approximate the revenue when 7250 items are sold. [Hintz Revenue is price times quantity.] $ 26600 x P(X) = Interpret the marginal revenue value. How much will the price need to be changed to have this level of sales? At this level of sales, the revenue decreases about $ 0.32 X per additional thousand items
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