posted by Anonymous on .
The management of Lorimar Watch Company has determined that the daily marginal revenue function associated with producing and selling their travel clocks is given by
R '(x) = -0.003x + 12
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 clocks.
(b) What is the demand equation that relates the wholesale unit price p with the quantity of travel clocks demanded?