To describe: The meaning of and .
The value means that if the selling price is 20 dollars per yard, then 10,000 yards will be sold.
The value means that increasing selling price by $1 then sales will decrease by 350 yards.
To find: The value of and interpret.
The function .
The values and .
(1) Product Rule:
(2) Power rule:
Obtain the value of .
The derivative of the function is computed as follows,
Apply the product rule (1) and the power rule (2),
Thus, the derivative of the function is .
Substitute 20 for p in ,
Substitute the value and in ,
The value of is positive.
That is, if the value of selling price is increase then the revenue is increases.
Therefore, the Revenue increases instaneously by $3000 for every $1 increase in price per yard.
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