Question: The demand for a new computer game can be modeled by p ( x ) = 5 2 . 5 - 5 l n x

The demand for a new computer game can be modeled by p(x)=52.5-5lnx, 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)=
b) Find the marginal revenue, R'(x).
R'(x)=47.5-5ln(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.)
 The demand for a new computer game can be modeled by

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!