Question: 1. (a) If the total revenue function for a product is R(x) = 4x, what is the marginal revenue function for that product? (b) What

1. (a) If the total revenue function for a product is R(x) = 4x, what is the marginal revenue function for that product?
(b) What does this marginal revenue function tell us?
2. If the total revenue function for a product is R(x) = 32x, what is the marginal revenue for the product? What does this mean?
Total revenue is in dollars and x is the number of units.

Step by Step Solution

★★★★★

3.47 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 a MR Rx 4 b Each unit sold ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(3945).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

(a) If the total revenue function for a hammer is R=36x-0.01x2, then sale of how many hammers, x, will maximize the total revenue in dollars? Find the maximum revenue. (b) Find the maximum revenue if...

(a) If the total revenue function for a blender is R(x) = 25x-0.05x2, sale of how many units, x, will provide the maximum total revenue in dollars? Find the maximum revenue. (b) Find the maximum...

If the total revenue function for a blender is R(x) = 36x - 0.01x2 where x is the number of units sold, what is the average rate of change in revenue R(x) as x increases from 10 to 20 units?

MAT1050 / Dr. Khoule Exam 3 1. The total revenue function for a product is given by same product is given by R 250x C 1600 350x x 2 , and the total cost function for this , where R and C are each...

Suppose that the total revenue function for a commodity is R = 36x - 0.01x2. (a) Find R(100) and tell what it represents. (b) Find the marginal revenue function. (c) Find the marginal revenue at x =...

1. Suppose that the total revenue function for a commodity is R(x) = 25x - 0.5x2. a. Find R(10) and tell what it represents. Find the marginal revenue function. C. Find the marginal revenue at x =...

QUESTION 40 Let's say you have the following information regarding how good the Colorado Rockies and Los Angeles Dodgers are If the teams played once, the Dodgers will win 60% of the time and the...

1) If the marginal revenue function for a company is R' (x) = -0.05x + 70, and if the company has sold 50 items already, find the additional revenue that will be earned by selling the next 60 items....

The total revenue function for a commodity is R = 40x - 0.02x2, with x representing the number of units. (a) Find the marginal revenue function. (b) At what level of production will marginal revenue...

Need help with these 4 problems please, and with clear explanations. For a certain company, the cost function for producing a items is C (x) = 40 % + 150 and the revenue function for selling & items...

Refer to the data given in the preceding exercise for Dolphin Company. In the preceding exercise Dolphin Company manufactures two- person sailboats with a variable cost of $ 1,000. The sailboats sell...

Refer to Exercise 10.73. For each of the four levels of frequency of purchase, compute the proportion of customers in each of the four adequacy of selection categories. Describe the trends in the...

15.38 The J. Conklin article, Its a Marathon, Not a Sprint, Quality Progress, June 2009, pp. 4649, discussed a metal deposition process in which a piece of metal is placed in an acid bath and an...

What assumptions underlie the purchasing power parity theory of exchange rates? a) Given purchasing power parity, what should happen to a country's exchange rate if its inflation rate is higher than...

Two different gauges can be used to measure the depth of bath material in a Hall cell used in smelting aluminum. Each gauge is used once in 15 cells by the same operator. (a) State any assumptions...

An article in the Journal of the Environmental Engineering Division (Distribution of Toxic Substances in Rivers, 1982, Vol. 108, pp. 639649) investigates the concentration of several hydrophobic...

An article in Concrete Research (Near Surface Characteristics of Concrete: Intrinsic Permeability, Vol. 41, 1989), presented data on compressive strength x and intrinsic permeability y of various...

Beta Gamma Sigma, the business honor society, recently held a dinner dance. The original (static) budget and actual results were as follows: Subdivide each variance into a sales-activity variance...

What is the price of each of the following bonds ($1,000 principal) if the current interest rate is 6 percent? Firm A: coupon 6%, Maturity 6 years Firm B: coupon 6%, Maturity 12 years Firm C: coupon...

a year ago you bought 100 shares of bradley corp. common stock for $32 per share. During the year, you received dividends of $2.50 per share. The stock is currently selling for $33.50 per share....