In Problem, total revenue is in dollars and x is the number of units. Suppose that the
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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.
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Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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