The revenue (in dollars) from the sale of x car seats for infants is given by the following function. R(x) = 56x – 0.020x? 0sxs 2800 (A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. (B) Use the four-step process to find R'(x). (C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and interpret the results. (A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. (Round to one decimal place as needed.) (B) R'(X) = (C) R(1000) = R'(1000) = Interpret these results. Choose the correct answer below. O A. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is decreasing at a rate of R'(1000) dollars per seat. O B. This means that at a production level of 1,000 car seats, the revenue is R'(1000) dollars and is increasing at a rate of R(1000) dollars per seat. O c. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is increasing at a rate of R'(1000) dollars per seat.
The revenue (in dollars) from the sale of x car seats for infants is given by the following function. R(x) = 56x – 0.020x? 0sxs 2800 (A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. (B) Use the four-step process to find R'(x). (C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and interpret the results. (A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats. (Round to one decimal place as needed.) (B) R'(X) = (C) R(1000) = R'(1000) = Interpret these results. Choose the correct answer below. O A. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is decreasing at a rate of R'(1000) dollars per seat. O B. This means that at a production level of 1,000 car seats, the revenue is R'(1000) dollars and is increasing at a rate of R(1000) dollars per seat. O c. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is increasing at a rate of R'(1000) dollars per seat.
Chapter9: Aggregate Expenditures
Section: Chapter Questions
Problem 14E
Related questions
Question
Transcribed Image Text:The revenue (in dollars) from the sale of x car seats for infants is given by the following function.
R(x) = 56x – 0.020x? 0sxs 2800
(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.
(B) Use the four-step process to find R'(x).
(C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and interpret the results.
(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.
(Round to one decimal place as needed.)
(B) R'(X) =
(C) R(1000) =
R'(1000) =
Interpret these results. Choose the correct answer below.
O A. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is decreasing at a rate of R'(1000) dollars per seat.
O B. This means that at a production level of 1,000 car seats, the revenue is R'(1000) dollars and is increasing at a rate of R(1000) dollars per seat.
O c. This means that at a production level of 1,000 car seats, the revenue is R(1000) dollars and is increasing at a rate of R'(1000) dollars per seat.
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 4 steps
Recommended textbooks for you
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
