Suppose that the total revenue function for a commodity is R = 36x - 0.01x2. (a) Find
Question:
(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.
Total revenue is in dollars and x is the number of units.
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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