Assume that the demand function for tuna in a small coastal town is given by 100 p = q0.5 (200 s q s 800), where p is the price (in dollars) per pound of tuna, and q is the number of pounds of tuna that can be sold at the price p in one month. (a) Calculate the price (in $ per Ib) that the town's fishery should charge for tuna in order to produce a demand of 400 pounds of tuna per month. per Ib (b) Calculate the monthly revenue R (in dollars) as a function of the number of pounds of tuna q. R(g) = (c) Calculate the revenue and marginal revenue (derivative of the revenue with respect to q) at a demand level of 400 pounds per month. revenue $. marginal revenue $ per Ib of tuna Interpret the results. At a demand level of 400 pounds per month, the revenue is $ per additional pound of tuna. and increasing at a rate of $

Assume that the demand function for tuna in a small coastal town is given by 100 p = q0.5 (200 s q s 800), where p is the price (in dollars) per pound of tuna, and q is the number of pounds of tuna that can be sold at the price p in one month. (a) Calculate the price (in $ per Ib) that the town's fishery should charge for tuna in order to produce a demand of 400 pounds of tuna per month. per Ib (b) Calculate the monthly revenue R (in dollars) as a function of the number of pounds of tuna q. R(g) = (c) Calculate the revenue and marginal revenue (derivative of the revenue with respect to q) at a demand level of 400 pounds per month. revenue $. marginal revenue $ per Ib of tuna Interpret the results. At a demand level of 400 pounds per month, the revenue is $ per additional pound of tuna. and increasing at a rate of $

Name: How do I do this problem MY NOTESAssume that the demand function for t
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Description: How do I do this problem MY NOTESAssume that the demand function for tuna in a small coastal town is given by100p =g0.5(200 s q s 800),where p is the price (in dollars) per pound of tuna, and q is the number of pounds of tuna that can be sold at the

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter3: Polynomial And Rational Functions

Section3.1: Quadratic Functions And Models

Problem 56E: When a certain drug is taken orally, the concentration of the drug in the patient's bloodstream...

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