A Fruit Stand Usually Sells 85 Apples Per Day at $0.60

question 14

Essay

A fruit stand usually sells 85 apples per day at $0.60 each.A business student's research tells her that for every $0.05 decrease in price,the stand will sell 8 more apples per day.The revenue function for the fruit stand is given by: R(x)= (0.60 - 0.05x)(85 + 8x)where x is the number of $0.05 reductions in price.Find
,the marginal revenue.

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Definitions:

Monetary Policy

The process by which a government, central bank, or monetary authority manages the supply of money and interest rates to achieve specific economic objectives.

Fed's Actions

Measures taken by the Federal Reserve to influence the U.S. economy's money supply and interest rates.

Net Exports

Spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports).

Central Bank

An institution that manages a country's currency, money supply, and interest rates, usually with the aim of managing inflation and ensuring financial stability.