The revenue from the production and sale of air fryers (in million dollars) is given by R(x) = 31 + 47ln(x), when x hundred units are ordered by a large company.
a. Write an expression for the average revenue when x hundred units are produced and sold.
b. Determine the average revenue when 16 units are produced and sold. Include proper units and round your answer to one decimal place.
c. Write the rate of change function for average revenue. Do not simplify your answer (don't combine constants, rewrite in any way, etc.)
d. How rapidly is the average revenue changing when 16 units are produced and sold? Include proper units and round your answer to one decimal place.