Question: The demand for a new computer game can be modeled by p(x)=47.5-6lnx, for 0x800, where p(x) is the price consumers will pay, in dollars, and
The demand for a new computer game can be modeled by p(x)=47.5-6lnx, for 0x800, where p(x) is the price consumers will pay, in dollars, and x is the number of games sold, in thousands. Recall that total revenue is given by R(x)=x*p(x). Complete parts (a) through (c) below.a) Find R(x).R(x)=47.5x-6xlnxb) Find the marginal revenue, R'(x).R'(x)=c) How many units will be sold if the price that consumers are willing to pay is $40?The number of units that will be sold is .(Round to the nearest whole number as needed.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
