Question: please answer this Q step by step Q14 A) The revenue equation (in hundreds of millions of dollars) for barley production in a certain country

please answer this Q step by step

Q14 A) The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x) =0.0693x~ + 1.4329x + 2.0816 where x is in hundreds of millions of bushels. Find the marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels. (a) The marginal-revenue equation is R'(x) = (Round to four decimal places as needed.) B) Assume that a demand equation is given by x = 6000 - 100p. Find the marginal revenue for the given production levels (values of x). (Hint: Solve the demand equation for p and use R(x) = xp.) (a) 1000 units (b) 3000 units (c) 5000 units What is the marginal revenue function, R'(x)? R'(x) = 43.3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x) = 0.0684x^2 + 1.3179x + 2.4523 where x is in hundreds of millions of...

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x)-0.0695x^2+1.4843x+2.0481 where x is in hundreds of millions of bushels....

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x) 0.0647x^2 + 1.2424x + 2.3437 where x is in hundreds of millions of...

The revenue equation in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x) = 0.0671x2 +1.2933x + 2.0269 where x is in hundreds of millions of bushels....

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0683x2+1.1053x+2.1898 where x is in hundreds of millions of bushels....

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0672x 2 + 1.4739x + 2.4006 where x is in hundreds of millions of...

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x) = 0.0724x2 +1.3182x+ 2.4529 where x is in hundreds of millions of bushels....

The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0673x +1.2883x+2.2308 where x is in hundreds of millions of bushels....

The revenue equation (in hundreds of millions of dollars] {or barley production in a certain country is approximated by R[X}= [1.1161'Bx2 + 1.1561): + 2.2994 where x is in hundreds of millions of...

he revenue equation (in hunderds of millions of dollars) for barley production in a certain country is approximated by R(x)= 0.0619x^2+1.2921x+2.1915 where x is in hundreds of millions of bushels....

(5) Suppose that the function f : R Rexists and that lime f(x) = L for real numbers c and L. Using only the definition of the limit of a function, prove that the limit below exists and determine its...

A well-written business case flows logically from presenting a problem or opportunity through the advantages and disadvantages of solutions to describing the recommended solution. An important factor...

Firm AB is merging with Firm ST . Firm AB has debt with a face value of $ 8 0 and Firm ST has debt with a face value of $ 4 0 . Firm ST s stockholders will receive stock in the combined firm in an...

Question 1 : Design a digital logic circuit to implement the below FSM . Use only JK flip flops. Figure 1