Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x^3+0.04x^2+0.7x. Currently, Pierce sells 50 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 52 lawn chairs were sold each day? c) What is the marginal revenue when 50 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(51), R(52), and R(53).
Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x^3+0.04x^2+0.7x. Currently, Pierce sells 50 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 52 lawn chairs were sold each day? c) What is the marginal revenue when 50 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(51), R(52), and R(53).
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 8P
Related questions
Question
Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is
R(x)=0.005x^3+0.04x^2+0.7x.
Currently, Pierce sells
50
lawn chairs daily.a) What is the current daily revenue?
b) How much would revenue increase if
52
lawn chairs were sold each day?c) What is the marginal revenue when
50
lawn chairs are sold daily?
d) Use the answer from part (c) to estimate
R(51),
R(52),
and
R(53).
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning