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Determine the revenue function

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Question: MARGINAL REVENUE FUNCTIONS Refer to Exercise 38. Management has also determined that the daily marginal revenue function associated with producing and selling their coffeemakers is given by

R'(x) = -0.03x + 60

Where x denotes the number of units produced and sold and R'(x) is measured in dollars/unit.

a. Determine the revenue function R(x) associated with producing and selling these coffeemakers.

b. What is the demand equation relating the wholesale unit price to the quantity of coffeemakers demanded?

Reference no: EM131637270

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