The revenue in dollars generated from a sale of x picnic tables is given by R(x) =66x Answer parts (a) through (đ). 250 (a) Find the marginal revenue when 6000 tables are sold (b) Estimate the revenue from the sale of the 6001st table by finding R'(6000). (c) Determine the actual revenue from the sale of the 6001st table. (d) Compare your answers for parts (b) and (c) What do you find?

The revenue in dollars generated from a sale of x picnic tables is given by R(x) =66x Answer parts (a) through (đ). 250 (a) Find the marginal revenue when 6000 tables are sold (b) Estimate the revenue from the sale of the 6001st table by finding R'(6000). (c) Determine the actual revenue from the sale of the 6001st table. (d) Compare your answers for parts (b) and (c) What do you find?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 1E

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