Textbook Problem

MARGINAL REVENUE, COST, AND PROFIT

In 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 $R\left(x\right)=25x-0.05x^2$.

(a) Find $R(50)$ and tell what it represents.

(b) Find the marginal revenue function.

(c) Find the marginal revenue at x = 50, and tell what it predicts about the sale of the next unit and the next 2 units.

(d) Find $R\left(51\right)-R(50)$ and explain what this value represents.