Description
revenue is found with he equation r=pq where p is the price charged and q is the quantity sold. If the price function is changing at a rate of 10 cents per day and the quantity sold is changing at -2 items per day. How is the revenue per day changing if the price is currently at $5 and the quantity sold is 100 items?
Explanation & Answer
Thank you for the opportunity to help you with your question!
r = pq
dr/dt = pdq/dt + qdp/dt
p = 5, dp/dt = 10 cents/day = 0.1USD/day, q = 100, dq/dt = -2/day
Hence, dr/dt = 5*-2+100*0.1
= -10+10
=0
It means that revenue is not changing or we can say that rate of change of revenue is zero.
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
1984
by George Orwell
The Call of the Wild
by Jack London
Girl in Translation
by Jean Kwok
Cant Hurt Me - Master Your Mind and Defy the Odds
by David Goggins
The Sun Is Also a Star
by Nicola Yoon
The Picture of Dorian Gray
by Oscar Wilde
The Outsiders
by S.E. Hinton
Milkweed
by Jerry Spinelli
Wuthering Heights
by Emily Brontë