R(p) = pN(p).| Bob is currently selling tires for 60 dollars each. His weekly sales are running at 130 tires per week, so N(60) = 130.| His marketing department estimates that he will lose 2 sales per week for each 10 dollar increase in unit price, so N'(60) = -0.2. Estimate Bob's increase in weekly revenue for each one dollar increase in tire price. Revenue increase =| dollars

R(p) = pN(p).| Bob is currently selling tires for 60 dollars each. His weekly sales are running at 130 tires per week, so N(60) = 130.| His marketing department estimates that he will lose 2 sales per week for each 10 dollar increase in unit price, so N'(60) = -0.2. Estimate Bob's increase in weekly revenue for each one dollar increase in tire price. Revenue increase =| dollars

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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