Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x) = 0 005x + 0:03x + 0

image text in transcribed
Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x) = 0 005x + 0:03x + 0 4x. Currently. Pierce sells 60 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 64 lawn chairs were sold each day? c) What is the marginal revenue when 60 lawn chairs are sold daily? di Use the answer from part (c) to estimate R(61), R(62), and R(63). a) The current revenue is $ b) The revenue would increase by $ (Round to the nearest cent. ) c) The marginal revenue is $ when 60 lawn chairs are sold daily R(62) = $ R (63) = $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health Economics

Authors: Jay Bhattacharya, Timothy Hyde, Peter Tu

1st Edition

113702996X, 978-1137029966

Students also viewed these Mathematics questions