Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x) = 0.006x³ +0.02x² +0.6x. Currently, Pierce sells 90 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 95 lawn chairs were sold each day? c) What is the marginal revenue when 90 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(91), R(92), and R(93). (…) a) The current revenue is $ b) The revenue would increase by $. (Round to the nearest cent.) c) The marginal revenue is $when 90 lawn chairs are sold daily. d) R(91) ≈ $ R(92) $ R(93) $

Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x) = 0.006x³ +0.02x² +0.6x. Currently, Pierce sells 90 lawn chairs daily. a) What is the current daily revenue? b) How much would revenue increase if 95 lawn chairs were sold each day? c) What is the marginal revenue when 90 lawn chairs are sold daily? d) Use the answer from part (c) to estimate R(91), R(92), and R(93). (…) a) The current revenue is $ b) The revenue would increase by $. (Round to the nearest cent.) c) The marginal revenue is $when 90 lawn chairs are sold daily. d) R(91) ≈ $ R(92) $ R(93) $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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