STATISTICS 501-The revenue equation(in hunderds of millions of dollars)
STATISTICS 501-The revenue equation(in hunderds of millions of dollars)
Subject: Mathematics   / Statistics
Question
The revenue equation(in hunderds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0718 x^2 + 1.1815x + 2.01030 where x is in hundreds of millions of bushels. Find the marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels.
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(a) The marginal-revenue equation is R?(x)=? (Round to four decimal places as needed.)
(b) Find the marginal revenue for the production of 200,000,000 bushels. The marginal revenue is ? hundred million dollars.(Type an integer or decimal rounded to two decimal places as needed.)
(c) Find the marginal revenue for the production of 950,000,000 bushels.The marginal revenue is ? hundred million dollars.(Type an integer or decimal rounded to two decimal places as needed.)
