At the moment OHaganBooks is selling 1000 books per week and its sales are rising at a rate of 200 books per week. Also, it is now selling all its books for $20 each, but the price is dropping at a rate of $1 per week. I need to know at what rate OHaganBooks' revenue is rising or falling given these conditions. I would also like to see the company's revenue increase at a rate of $5000 per week. At what rate would sales have to have been increasing to accomplish this?
Can somebody help me answer this and explain the steps to solve the problem?
Please help me this project is due tomorrow morning!!
We tried to help you with this several days ago. What did you not understand?
i am a different person and i still do not understand it
i get R'=3000-400X
but i don't understand wat to do with the 5000
Michael I have a question for you about the simplifying and taking a derivative
Ben - I just answered you on your original post "Calc."
"PLEASE HELP!" - Your equation is not correct.
What is the basic formula for calculating revenue? Think about how a bookstore gets money if all its books are priced equally.
R=p*q
Right. Now how do you implicitly differentiate that?
Follow the product and chains rules.
Follow the product and chain rules.**
R'=p'(q)+p(q')
All you have to do is read the problem and identify p', q, p, and q'. Plug them in to get your change in rate of revenue (R').
ok i got
p=20
p'=-1
q=1000
q'=200
and when i plugged them in i got r'=3000
is that right?