Rate of Change of Demand and Revenue
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The Manager of a company that produces graphing calculators determines that when x thousand calculators are produced, they will all be sold when the price is p(x)=1,000/0.3x^2+8 dollars per calculator.
A. At what rate is demand p(x) changing with respect to the level of production x when 3,000(x=3) calculators are produced?
B. The revenue derived from the sale of x thousand calculators is R(x)=xp(x) thousand dollars. At what rate is revenue changing when 3,000 calculators are produced? Is revenue increasing or decreasing at this level of production?
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