Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The revenue equation(in hundrds of millions ofdollars) for barley production in a certain country is approximated by R(x) =0.0622x^2 + 1.1223x + 2.1094 where x

The revenue equation(in hundrds of millions ofdollars) for barley production in a certain country is approximated by R(x) =0.0622x^2 + 1.1223x + 2.1094

where x is in hundreds of millions of bushels. Find themarginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels.

(a) Themarginal-revenue equation is Upper R'(x)=

(b) Find the marginal revenue for the production of 300,000,000 bushels.

The marginal revenue is ? hundred million dollars.

(c) Find the marginal revenue for the production of 850,000,000 bushels.

The marginal revenue is ? hundred million dollars.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Financial Management

Authors: Eugene F. Brigham, Phillip R. Daves

11th edition

978-1111530266

Students also viewed these Finance questions

Question

I need help with answering these questions

Answered: 1 week ago

Question

What would happen to a business without a marketing strategy? Why?

Answered: 1 week ago