Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs is R(x)=0.005x³ +0.02x2 +0.5x 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)=0.005x³ +0.02x2 +0.5x 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) $

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.7P

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