Question
The price p(in dollars) and the demand x for a particular clock radio are related by the equation x=500050p. (A) Express the price p in
The price p(in dollars) and the demand x for a particular clock radio are related by the equation x=500050p.
(A) Express the price p in terms of the demandx, and find the domain of this function.
(B) Find the revenueR(x) from the sale of x clock radios. What is the domain ofR?
(C) Find the marginal revenue at a production level of 4400 clock radios.
(D) Interpret R(4600)=84.00.
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
