1 answer

The revenue (in thousands of dollars) from producing x units of an item is modeled by...

Question:

The revenue (in thousands of dollars) from producing x units of an item is modeled by R(x) = 10x -0.005% a. Find the average
The revenue (in thousands of dollars) from producing x units of an item is modeled by R(x) = 10x -0.005% a. Find the average rate of change in revenue as x changes from 1003 to 1007 b. Find the marginal revenue at x=600. a. The average rate of change in revenue is dollars per unit. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The marginal revenue is dollars per unit. (Do not round until the final answer. Then round to the nearest dollar as needed.) Enter your answer in each of the answer boxes

Answers

given,
R(x) = 10x-0.005x2
a= 1003 and b = 1007
R(1003) = 10(1003) - 0.005(1003)2 = 4999.955
R(1007) = 10(1007) - 0.005(1007)2 = 4999.755
thus the average rate of change in revenue is,
A(x) = (R(b) - R(a)) / (b-a) = (R(1007)-R(1003)) / (1007-1003)
= (4999.955-4999.755) / 4 = 0.05
hence, the average rate of change in revenue is $0.05 per unit

b) MR = 10-0.005(2x) = 10-0.01x
MR (600) = 4
hence, the marginal revenue at x=600 is $4 per unit

.

Similar Solved Questions

1 answer
I want the names of the drawn organic compounds numbered 1, 2, and 3 in this...
I want the names of the drawn organic compounds numbered 1, 2, and 3 in this reactions 1) Buli, Etzo -78 °C TBSO (EtO)2P(0) CO2Me 7 2) Aldehyde 1 -78 0°C, 6 h CO2Me 82% 2 TBSO 87:13 TBSO CHO Ph3PCO2Me (1.8 equiv) Water 90 °C (2 h) CO Me 67% 1 2 85:15 TBSO TBSO CHO Ph3PCO2CH2CCl3 (1.5 equ...
1 answer
Calculate the flow of the vector field F (picture) across the surface of the solid W...
Calculate the flow of the vector field F (picture) across the surface of the solid W defined by the paraboloid z = 4-x^2-y^2 and the xy plane, with normal outside W F(x, y, z) = (x3,2xz2, 3y2z)...
1 answer
1. Which of the following is true of the fraud triangle? The fraud triangle explains the...
1. Which of the following is true of the fraud triangle? The fraud triangle explains the factors causing someone to commit fraud. The fraud triangle explains that only a perceived unshareable financial need can encourage individuals to commit frauds. The fraud triangle explains tha...
1 answer
Bill Johnson is the materials manager at Bill’s Electric in Lexingoton, Kentucky. Bill is looking for...
Bill Johnson is the materials manager at Bill’s Electric in Lexingoton, Kentucky. Bill is looking for ways to reduce inventories. A recent statement shows the following inventories: raw materials, $5,127,400; work-in-process, $6,432,000; and finished goods, $3,587,200. This year’s cost o...
1 answer
7.41 ml of a solution of Fe2+ (aq) is titrated with 19.3 ml of 0.367 M...
7.41 ml of a solution of Fe2+ (aq) is titrated with 19.3 ml of 0.367 M KMnO4 in acidic solution. The balanced Redox equation is: MnO4 (aq) + 5 Fe2+(aq) + 8 H(aq) --> 5 Fe3+(aq) + Mn2+(aq) + 4 H2O(1) Calculate the concentration, in M, of Fe2(aq) in the sample. Express your answer to the appropriat...
1 answer
The position of a particle moving along the x axis is given by (21 22 6...
The position of a particle moving along the x axis is given by (21 22 6 0 )m 2 x = + t − . t , where t is in s. What is the average velocity during the time interval t = 1.0 s to t = 3.0 s? a) –6.0 m/s b) –4.0 m/s c) –2.0 m/s d) –8.0 m/s e) 8.0 m/s...
1 answer
Discuss the relevancy of the Internet in respect to the reshaping of the patient and doctor...
Discuss the relevancy of the Internet in respect to the reshaping of the patient and doctor relationship include source...
1 answer
1. A market has supply and demand curves that follow the following set of equations: Supply...
1. A market has supply and demand curves that follow the following set of equations: Supply P = 30s + 6 Demand P = -20p + 146. For both of these problems pictures are not required but the problems may be much easier if you draw some. a) Find the equilibrium price and quantity in this market and the ...
1 answer
A water pump operating at 85% motor efficiency is used to transfer water from a lake...
A water pump operating at 85% motor efficiency is used to transfer water from a lake reservoir to a storage tank 100 ft above the lake level. The inlet to the pump is 2 inches. Thfae outlet of the pump is 2 inches. The storage tank is open to atmosphere. Useful Constants: Density of water is 624 lbm...
3 answers
How do you simplify and make the fraction 5/12 into a decimal?
How do you simplify and make the fraction 5/12 into a decimal?...
1 answer
An infinite straight wire carries a current I that varies with time as shown above. It...
An infinite straight wire carries a current I that varies with time as shown above. It increases from 0 at t = 0 to a maximum value l_1 = 2.7 A at t = t_1 = 14 s, remains constant at this value until t = t_2 when it decreases linearly to a value l_4 = -2.7 A at t = t_4 = 25 s, passing through zero a...
1 answer
E5-3 Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Morning Dove...
E5-3 Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-2,200 units, and monthly p...
1 answer
Please provide detailed solution with schematic diagram and psychometric chart. your highly response will be appreciated....
Please provide detailed solution with schematic diagram and psychometric chart. your highly response will be appreciated. Page 2 of 8 May 2018 16-MEC-B2 Environmental Control in Buildings ROBLEM 1. (30 POIN In sumimer a room is to be maintained at 20°C, RIIS0%, when the outside air is at 260 per...
1 answer
Given 2 vectors #A = 4.00i + 3.00j # and #B =5.00i - 2.00 j# how do you find the magnitude of each vector?
Given 2 vectors #A = 4.00i + 3.00j # and #B =5.00i - 2.00 j# how do you find the magnitude of each vector?...
1 answer
19. (-/5 Points] DETAILS JKESTAT11 9.E.107. MY NOTES ASK YOUR TEACHER A politician claims that she...
19. (-/5 Points] DETAILS JKESTAT11 9.E.107. MY NOTES ASK YOUR TEACHER A politician claims that she will receive 59% of the vote in an upcoming election. The results of a properly designed random sample of 100 voters showed that 54 of those sampled will vote for her. Is it likely that her assertion i...
1 answer
1. Refer to Figure 1-5. The figure above represents demand and supply in the market for...
1. Refer to Figure 1-5. The figure above represents demand and supply in the market for cigarettes. Use the diagram to answer the following questions. a. How much is the government tax on each pack of cigarettes? b. What portion of the unit tax is paid by consumers? c. What portion of the unit ta...
1 answer
6-11 please !!! 6. A positive charge of 6.0 x 10 coulomb is placed in an...
6-11 please !!! 6. A positive charge of 6.0 x 10 coulomb is placed in an upward directed uniform electric field of 4.0 x 10^N/C. When the charge is moved 0.5 meter upward, the work done by the electric force on the charge is (A) 6 x 104J (B) 1.2 x 10°) (C)2 x 10^ J (D) 8 x 10^J (E) 12 x 10- J...