   Chapter 9.9, Problem 1E Mathematical Applications for the ...

12th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781337625340

Solutions

Chapter
Section Mathematical Applications for the ...

12th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781337625340
Textbook Problem

In Problems 1-8, total revenue is in dollars and x is the number of units.(a) If the total revenue function for a product is R ( x )   = 4 x , what is the marginal revenue function for that product?(b) What does this marginal revenue function tell us?

(a)

To determine

To calculate: The marginal revenue function for the revenue function, R(x)=4x.

Explanation

Given Information:

The revenue function is R(x)=4x.

Formula used:

According to the power rule, if f(x)=xn, then,

f(x)=nxn1

According to the property of differentiation, if a function is of the form, g(x)=cf(x), then,

g(x)=cf(x)

Calculation:

Consider the marginal revenue function to be MR¯

(b)

To determine

The interpretation of the marginal revenue function for the revenue function, R(x)=4x.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Find more solutions based on key concepts 