The management of ABC Corporation Ltd. plans to market a new speaker system. The marketing department estimates that the demand for these speakers is: p = − 0.04x + 800 (0 ≤ x ≤ 20,000), where p denotes the price (in dollars), and x denotes the quantity demanded. i. Find the revenue function R(x). ii. Find the marginal revenue function R' (x). iii. Find the R '(5,000) and interpret.
The management of ABC Corporation Ltd. plans to market a new speaker system. The marketing department estimates that the demand for these speakers is: p = − 0.04x + 800 (0 ≤ x ≤ 20,000), where p denotes the price (in dollars), and x denotes the quantity demanded. i. Find the revenue function R(x). ii. Find the marginal revenue function R' (x). iii. Find the R '(5,000) and interpret.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The management of ABC Corporation Ltd. plans to market a new speaker system.
The marketing department estimates that the demand for these speakers is:
p = − 0.04x + 800 (0 ≤ x ≤ 20,000), where p denotes the price (in dollars), and x denotes
the quantity demanded.
i. Find the revenue function R(x).
ii. Find the marginal revenue function R' (x).
iii. Find the R '(5,000) and interpret.
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