Let R(x) be the revenue received from the sale of x units of a product. The average

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Let R(x) be the revenue received from the sale of x units of a product. The average revenue per unit is defined by AR = R(x)/x. Show that at the level of production where the average revenue is maximized, the average revenue equals the marginal revenue.

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Calculus And Its Applications

ISBN: 9780134437774

14th Edition

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

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