How much will price need to be changed to have level of sale

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For the price function p(x) = 10 − sqrt 3x where p is in dollars and x is the number sold in hundreds (0 ≤ x ≤ 30), use R(12) and MR(12) to approximate the revenue when 1240 items are sold. [Hint: Revenue is price times quantity.] $

Interpret the marginal revenue value. At this level of sales, the revenue ( increases or decreases) by about $ per additional hundred items.

How much will the price need to be changed to have this level of sales? (Round your answer to two decimal places.) The price will need to be (raised or lowered) by about $ .

Reference no: EM131083685

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