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The management of Lorimar Watch Company has determined that the daily marginal revenue function associated with producing and s...Asked by Anonymous
The management of Lorimar Watch Company has determined that the daily marginal revenue function associated with producing and selling their travel clocks is given by
R '(x) = -0.003x + 12
where x denotes the number of units produced and sold and R '(x) is measured in dollars/unit.
(a) Determine the revenue function R(x) associated with producing and selling these clocks.
R(x) =
(b) What is the demand equation that relates the wholesale unit price p with the quantity of travel clocks demanded?
p =
R '(x) = -0.003x + 12
where x denotes the number of units produced and sold and R '(x) is measured in dollars/unit.
(a) Determine the revenue function R(x) associated with producing and selling these clocks.
R(x) =
(b) What is the demand equation that relates the wholesale unit price p with the quantity of travel clocks demanded?
p =
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