   Chapter 9.9, Problem 2E ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

#### Solutions

Chapter
Section ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

# In Problems 1-8, total revenue is in dollars and x is the number of units.If the total revenue function for a product is R ( x ) = 32 x , what is the marginal revenue for the product? What does this mean?

To determine

To calculate: The marginal revenue for the revenue function, R(x)=32x, and interpret the result.

Explanation

Given Information:

The revenue function is R(x)=32x.

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¯. Consider the provided revenue function,

R(x)=32x

The marginal revenue of a revenue function is found by differentiating the revenue function

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