please help with question 14 14. The total revenue for a commodity is given by R(x) = 2x V500 – x ,when there is a demandfor x units. The maximum total revenue is approximately,A. $3,333.00B. $8,606.63C. $8,556.63D. $8,106.50

Answered: please help with question 14

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please help with question 14

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 5E

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Question

please help with question 14

14. The total revenue for a commodity is given by R(x) = 2x V500 – x ,when there is a demand
for x units. The maximum total revenue is approximately,
A. $3,333.00
B. $8,606.63
C. $8,556.63
D. $8,106.50

Expert Solution

Step 1

Total revenue is defined as the total receipt of seller that he gains by selling the products. This can be found by multiplying price with total quantity.

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