00:01
Hi, from the question given that annual retail sales, annual retail sales in 2003 is $128000.
00:21
Similarly annual retail sales in 2006 will be $215000.
00:29
So here we need to find the average rate of increase in sales per year.
00:35
Average rate of increase in sales per year.
00:47
So that is equal to increase in annual sales.
00:51
So 215000 minus 128000 divided by 128.
00:59
Number of years from 2006 to 2003.
01:06
So that is equal to $29000.
01:19
So that the correct option is option b.
01:22
Now let us move on to the second one.
01:24
So second one, the quantity x in 100, the price per sofa.
01:32
So price per sofa is equal to 3000 minus 4x.
01:40
And the cost function c of x is equal to 100000 plus 180000x plus 24x square.
01:58
So here the revenue function r of x is equal to price per quantity times price per sofa times the number of quantity.
02:11
So here price per sofa is 3000 minus 4x and the number of quantity will be x times of 100...