Question: Please help with 4 and 5 involved in any calculations. CIS Be sure to show all of your work The marketing research department for a

Please help with 4 and 5

involved in any calculations. CIS Be sure to show all of your work The marketing research department for a manufacturer of chairs has determined that the price-demand curve for their products is p(x) = -0.15x+750 where p(x) is the wholesale unit price in dollars and x denotes the quantity demanded Part 1: Revenue The revenue function is defined as R(x) = x p(x). 1. Find the revenue function, R(x) 2. Find the marginal revenue function, R'(x) 3. Find and interpret the marginal revenue for x = 1500 units 4. Use the 1" derivative test to determine when the revenue function is increasing and decreasing. Then, how many chairs (x) need to be sold in order to maximize the revenue? What is the maximum revenue? 5. What wholesale price (to the nearest dollar) should the company price the chairs at in order to achieve the maximum revenue

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