   Chapter 9.9, Problem 4E ### 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 ( x ) = 25 x   − 0.05 x 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 ( 51 ) − R ( 50 ) and explain what this value represents.

(a)

To determine

To calculate: The value of R(50) and what it signifies. If. R(x)=25x0.05x2 is the total revenue function.

Explanation

Given Information:

The total revenue function.is. R(x)=25x0.05x2.

Calculation:

Consider the provided function, R(x)=25x0.05x2

Substitute the value of x=50 in R(x)=25x0.05x2

(b)

To determine

To calculate: The marginal revenue function if R(x)=25x0.05x2.

(c)

To determine

To calculate: The value of the marginal revenue at x=50 and to predict the sale of the next unit and the next 2 units.

(d)

To determine

To calculate: The value of R(51)R(50) and explain what it depicts.

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