3) a) In your own words explain below what a point of diminishing returns for a...

 

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3) a) In your own words explain below what a point of diminishing returns for a revenue equation is and how this point (if it exists) affects investment decisions. Given that R(x) =100 +36x - x represents the revenue generated by a product in thousands of dollars where x represents the amount spent on advertising in thousands of dollars. b. Calculate the amount spent on advertising that will maximize the revenue generated by this product. All work must be shown!!! dollars spent on advertising will maximize the revenue c. Calculate the maximum revenue that can be generated by this product according to the above data Maximum Revenue = d. Calculate the amount spent on advertising that will result in a diminishing point of return for this function if such a point exists. Show all of your work!! dollars spent on advertising will result in a point of diminishing returns 3) a) In your own words explain below what a point of diminishing returns for a revenue equation is and how this point (if it exists) affects investment decisions. Given that R(x) =100 +36x - x represents the revenue generated by a product in thousands of dollars where x represents the amount spent on advertising in thousands of dollars. b. Calculate the amount spent on advertising that will maximize the revenue generated by this product. All work must be shown!!! dollars spent on advertising will maximize the revenue c. Calculate the maximum revenue that can be generated by this product according to the above data Maximum Revenue = d. Calculate the amount spent on advertising that will result in a diminishing point of return for this function if such a point exists. Show all of your work!! dollars spent on advertising will result in a point of diminishing returns