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Just need some help with these questions. Would be better if solutions were written out. MCV Rates of Change in Business and Economics Problem 1
Just need some help with these questions. Would be better if solutions were written out.
MCV Rates of Change in Business and Economics Problem 1 An ice cream shop sells 150 vanilla ice cream cakes per month at a price of $40 each. A customer survey indicates for each $1 decrease in price, sales will increase by 5 cakes. a) Determine a revenue function based on the number of price decreases. b) Determine the marginal revenue for the revenue function developed in part a). c) When is the marginal revenue function equal to zero? What is the total revenue at this time? How can the owners use this information? Problem 2 Determine the derivative of the following using three different rules. Simplify each to show that the derivative is the same no matter what rule you use. State the rule you are using. 5x2 +1 y = 1: Rule: Rule: RuleStep by Step Solution
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