In Problem, total revenue is in dollars and x is the number of units. Suppose that the

Question:

In Problem, total revenue is in dollars and x is the number of units.

Suppose that the total revenue function for a commodity is R = 64x - 0.02x2.

(a) Find R(100) and tell what it represents.

(b) Find the marginal revenue function.

(c) Find the marginal revenue at x = 100 and tell what it predicts about the sale of the next unit and the next 3 units.

(d) Find R(101) - R(100) and explain what this value represents.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: