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I need help solving these problems. Suppose a product's revenue function is given by R{q) = 7q2 + 2001;, where R(q) is in dollars and
I need help solving these problems.
Suppose a product's revenue function is given by R{q) = 7q2 + 2001;, where R(q) is in dollars and q is the number of units sold. Use the marginal revenue function to find the approximate revenue generated by selling the 3 unit. Marginal revenue 2 l ' dollars per unit Submit Question Suppose a product's cost function is given by C(q) = 41;;2 + 1000q, Where C(q) is in dollars and q is the number of units produced. Use the marginal cost function to find the approximate cost of producing the 2 unit. Marginal cost = l ' dollars per unit Acme finds that its monthly revenue, in dollars, from the sale of x carry-on suitcases is 0.00633 0.42:2 + 1303:. Currently Acme is selling 24 carry-on suitcases monthly. a} What is the current monthly revenue? dollars per month v V b) Howr much would revenue increase if sales increased from 24 to 26 suitcases? dollars per month v V c) What is the marginal revenue when 24 suitcases are sold? dollars per suitcase v V d) Estimate the revenue resulting from selling 25 suitcases per month. dollars per month v V Question Help: EVideo SubmitStep by Step Solution
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