Solution Found!
Revenue The revenue in dollars generated from the sale of
Chapter 3, Problem 51A(choose chapter or problem)
Revenue The revenue in dollars generated from the sale of x picnic tables is given by .a. Find the marginal revenue when 1000 tables are sold.________________b. Estimate the revenue from the sale of the 1001st table by finding R?(1000).________________c. Determine the actual revenue from the sale of the 1001st table.________________d. Compare your answers for parts b and c. What do you find?
Questions & Answers
QUESTION:
Revenue The revenue in dollars generated from the sale of x picnic tables is given by .a. Find the marginal revenue when 1000 tables are sold.________________b. Estimate the revenue from the sale of the 1001st table by finding R?(1000).________________c. Determine the actual revenue from the sale of the 1001st table.________________d. Compare your answers for parts b and c. What do you find?
ANSWER:Step 1 of 6
The revenue is given by the following expression