Question
Asked Nov 21, 2019
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The marginal revenue from the sale of x bottles of fancy sparkling water is given by R' (x)
84 0.03 x dollars per bottle. Find the increase in total revenue if the number of bottles sold
increased from 225 to 350
5.
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The marginal revenue from the sale of x bottles of fancy sparkling water is given by R' (x) 84 0.03 x dollars per bottle. Find the increase in total revenue if the number of bottles sold increased from 225 to 350 5.

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Expert Answer

Step 1

Given,

Total revenue is the multiplication of price per unit and quantity of goods. After integrating the marginal revenue function with respect to x, total revenue can be find. Which is equal to:

Marginal revenue R' (x) = 84-0.03/x
3
Total revenue R (x) 84x - 0.02x
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Marginal revenue R' (x) = 84-0.03/x 3 Total revenue R (x) 84x - 0.02x

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Step 2

If x = 225, total revenue is:

R(x)84x-0.02r
R(225) 84x 225-0.02x 225
18900- 67.5
18832.5
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R(x)84x-0.02r R(225) 84x 225-0.02x 225 18900- 67.5 18832.5

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Step 3

Similarly, if x = 350, t...

R(x) 84x-0.02x
R(350) 84x350-0.02x 3 50
29400-130.95
29269.042
Total revenue
Quantity
225
18832.5
29269.042
350
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R(x) 84x-0.02x R(350) 84x350-0.02x 3 50 29400-130.95 29269.042 Total revenue Quantity 225 18832.5 29269.042 350

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