24 The revenue (in dollars) from the sale of x car seats for infants is given by the following function.R(x)=56x -0.020x² 0≤x≤2800(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.(B) Use the four-step process to find R'(x).(C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and interpret the results.(...)(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.(Round to one decimal place as needed.)

Revenue, in economic matters, the income that a firm gets from the offer of a decent or…

the four-step process to find R'(x). the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. nd to one decimal place as needed.)

the four-step process to find R'(x). the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. nd to one decimal place as needed.)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

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Question

The revenue (in dollars) from the sale of x car seats for infants is given by the following function.
R(x)=56x -0.020x² 0≤x≤2800
(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.
(B) Use the four-step process to find R'(x).
(C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and interpret the results.
(...)
(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.
(Round to one decimal place as needed.)

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