Assume that the demand function for tuna in a small coastal town is given by 24,000 p = (200 s q s 800), g1.5 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. $ 3.0 per Ib (b) Calculate the monthly revenue R (in dollars) as a function of the number of pounds of tuna q. R(q) = (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 $ and decreasing at a rate of $ per additional pound of tuna.

Assume that the demand function for tuna in a small coastal town is given by 24,000 p = (200 s q s 800), g1.5 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. $ 3.0 per Ib (b) Calculate the monthly revenue R (in dollars) as a function of the number of pounds of tuna q. R(q) = (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 $ and decreasing at a rate of $ per additional pound of tuna.

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

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