The price-demand equation for the production ofx ski jackets is given by: p=200 - 0.2x 4. Evaluate the marginal revenue at x = 80. 5. Interpret the results from #4.

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.5: Linear Functions And Models
Problem 6E
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The price-demand equation for the production of x ski jackets is given by: p= 200 - 0.2x
4. Evaluate the marginal revenue at x = 80.
5. Interpret the results from # 4.
Transcribed Image Text:TOD The price-demand equation for the production of x ski jackets is given by: p= 200 - 0.2x 4. Evaluate the marginal revenue at x = 80. 5. Interpret the results from # 4.
Expert Solution
Step 1

(4)

Determine the total revenue TR and then use the differentiation to calculate marginal revenue MR.

p=2000.2xpx=2000.2xTRx=x×px=x×2000.2x=200x0.2x2MR=ddx200x0.2x2=200dxdx0.2ddxx2=2000.2×2xSo, MR(x)=2000.4x

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