For the price function p(x) = 10 √√3x where p is in dollars and x is the number sold in hundreds (0 ≤ x ≤ 30), use R(12) and MR(12) to approximate the revenue when 1230 items are sold. [Hint: Revenue is price times quantity.] $ 100 X Interpret the marginal revenue value. At this level of sales, the revenue increases by about $ 48.3 Xper additional hundred items. How much will the price need to be changed to have this level of sales? (Round your answer to two decimal places.) Xby about $ 3.93 The price will need to be raised
For the price function p(x) = 10 √√3x where p is in dollars and x is the number sold in hundreds (0 ≤ x ≤ 30), use R(12) and MR(12) to approximate the revenue when 1230 items are sold. [Hint: Revenue is price times quantity.] $ 100 X Interpret the marginal revenue value. At this level of sales, the revenue increases by about $ 48.3 Xper additional hundred items. How much will the price need to be changed to have this level of sales? (Round your answer to two decimal places.) Xby about $ 3.93 The price will need to be raised
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 18SQ
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