Total revenue is in dollars and x is the number of units. Suppose that the total revenue function for a commodity is R = 49x − 0.02x2. (a) Find R(100). $ Tell what it represents. The revenue decreases by about this amount when the number of units is increased from 100 to 101.The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue.The actual revenue of the 100th unit is this amount.101 units produce this amount of revenue. (b) Find the marginal revenue function. MR = (c) Find the marginal revenue (in dollars per unit) at x = 100. $ per unit
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Total revenue is in dollars and x is the number of units.
Suppose that the total revenue function for a commodity is
$
Tell what it represents.
(b) Find the marginal revenue function.
(c) Find the marginal revenue (in dollars per unit) at
$ per unit
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