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Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p= 3000.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. 300x -0.01x²ln(x)✔ Exactly! -0.01x -0.02x In(x) + 300 ✓ R(x) = R'(X) = Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) X $273.44

Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p= 3000.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. 300x -0.01x²ln(x)✔ Exactly! -0.01x -0.02x In(x) + 300 ✓ R(x) = R'(X) = Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) X $273.44

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p = 300 - 0.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. R(x) = 300x -0.01x²ln(x) R'(x) = Exactly! -0.01x -0.02x ln(x) + 300 Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) $273.44
Transcribed Image Text:Marginal Revenue The demand function for a certain boat company's 34 ft Sundancer yacht is p = 300 - 0.01x In(x) where x denotes the number of yachts and p is the price per yacht in hundreds of dollars. (a) Find the revenue function R(x) and the marginal revenue function R'(x) for this model of yacht. R(x) = 300x -0.01x²ln(x) R'(x) = Exactly! -0.01x -0.02x ln(x) + 300 Exactly! (b) Use the result of part (a) to estimate the revenue to be realized from the sale of the 225th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.) $273.44
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