A travel agency will plan a group tour for groups of size 30 or larger. If the group contains exactly 30 people, the cost is $310 per person. If each person's cost is reduced by $10 for each additional person above the 30, then the revenue is given by the equation shown below, where x is the number of additional people above 30. R(x) = (30 + x)(310 − 10x) Find the marginal revenue if the group contains 35 people. $ Interpret your result. The revenue will increase by the absolute value of the marginal revenue in dollars if the group adds one person.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group removes one person. The revenue will increase by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group adds one person.
A travel agency will plan a group tour for groups of size 30 or larger. If the group contains exactly 30 people, the cost is $310 per person. If each person's cost is reduced by $10 for each additional person above the 30, then the revenue is given by the equation shown below, where x is the number of additional people above 30. R(x) = (30 + x)(310 − 10x) Find the marginal revenue if the group contains 35 people. $ Interpret your result. The revenue will increase by the absolute value of the marginal revenue in dollars if the group adds one person.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group removes one person. The revenue will increase by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group adds one person.
ChapterP: Prerequisites
SectionP.4: Factoring Polynomials
Problem 84E: The rate of change of an autocatalytic chemical reaction is kQxkx2 where Q is the amount of the...
Related questions
Question
A travel agency will plan a group tour for groups of size 30 or larger. If the group contains exactly 30 people, the cost is $310 per person. If each person's cost is reduced by $10 for each additional person above the 30, then the revenue is given by the equation shown below, where x is the number of additional people above 30.
R(x) = (30 + x)(310 − 10x)
Find the marginal revenue if the group contains 35 people.
$
Interpret your result.
The revenue will increase by the absolute value of the marginal revenue in dollars if the group adds one person.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group removes one person. The revenue will increase by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by $1 if the group adds the absolute value of the marginal revenue number of people.The revenue will decrease by the absolute value of the marginal revenue in dollars if the group adds one person.
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
Recommended textbooks for you
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
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