   Chapter 9.9, Problem 3E ### 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

# MARGINAL REVENUE, COST, AND PROFITIn Problems 1-8, total revenue is in dollars and x is the number of units.Suppose that the total revenue function for a commodity is R =   36 x   —  0 .01 x 2 .(a) Find R ( 100 ) and tell what it represents.(b) Find the marginal revenue function.(c) Find the marginal revenue at x = 100, and tell what it predicts about the sale of the next unit and the next 3 units.(d) Find R ( 101 ) − R ( 100 ) and explain what this value represents.

(a)

To determine

To calculate: The value of R(100) and what it signifies. If. R(x)=36x0.01x2 is the total revenue function.

Explanation

Given Information:

The total revenue function.is. R(x)=36x0.01x2.

Calculation:

Consider the provided function, R(x)=36x0.01x2

Substitute the value of x=100 in R(x)=36x0.01x2

(b)

To determine

To calculate: The marginal revenue function where total revenue function is R(x)=36x0.01x2.

(c)

To determine

To calculate: The value of the marginal revenue at x=100 and to predict the sale of the next unit and the next 3 units.

(d)

To determine

To calculate: The value of R(101)R(100) and explain what it depicts.

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