The demand function for a certain boat company's 34 ft Sundancer yacht is p = 900 − 0.01x ln(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.
The demand function for a certain boat company's 34 ft Sundancer yacht is p = 900 − 0.01x ln(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.
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 isp = 900 − 0.01x ln(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)=
R'(x)=
(b)
Use the result of part (a) to estimate the revenue to be realized from the sale of the 400th 34 ft Sundancer yacht. (Round your answer to the nearest dollar.)
$
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