the price p (in dollars) and the demand x for a particular clock - radio are related by the equation x =…

the price p (in dollars) and the demand x for a particular clock - radio are related by the equation x = 5000 - 50p.\n(a) express the price p in terms of the demand x, and find the domain of this function.\n(b) find the revenue r(x) from the sale of x clock - radios. what is the domain of r?\n(c) find the marginal revenue at a production level of 3900 clock - radios.\n(d) interpret r(4400)= - 76.00.\n(a) p = p(x)=
Answer
Explanation:
Step1: Rearrange the demand - price equation
Given $x = 5000-50p$, solve for $p$. First, isolate $50p$: $50p=5000 - x$. Then $p=\frac{5000 - x}{50}=100-\frac{x}{50}$. Since $x\geq0$ (demand cannot be negative) and $p\geq0$, when $p = 0$, $x = 5000$. So the domain of $p(x)$ is $0\leq x\leq5000$.
Step2: Find the revenue function
Revenue $R(x)=p\times x$. Substitute $p = 100-\frac{x}{50}$ into the revenue formula: $R(x)=(100-\frac{x}{50})x=100x-\frac{x^{2}}{50}$. The domain of $R(x)$ is the same as the domain of $x$ in the demand - price relationship, so $0\leq x\leq5000$.
Step3: Find the marginal revenue function
The marginal revenue function $R^\prime(x)$ is the derivative of $R(x)$. Since $R(x)=100x-\frac{x^{2}}{50}$, using the power rule $\frac{d}{dx}(ax^{n})=nax^{n - 1}$, we have $R^\prime(x)=100-\frac{2x}{50}=100-\frac{x}{25}$.
Step4: Evaluate the marginal revenue at $x = 3900$
Substitute $x = 3900$ into $R^\prime(x)$: $R^\prime(3900)=100-\frac{3900}{25}=100 - 156=- 56$.
Step5: Interpret $R^\prime(4400)=-76$
The marginal revenue $R^\prime(4400)=-76$ means that when the production level is 4400 clock - radios, the revenue from selling one additional clock - radio will decrease by $76$.
Answer:
(A) $p(x)=100-\frac{x}{50}$, domain: $0\leq x\leq5000$ (B) $R(x)=100x-\frac{x^{2}}{50}$, domain: $0\leq x\leq5000$ (C) $-56$ (D) When the production level is 4400 clock - radios, the revenue from selling one additional clock - radio will decrease by $76$.