   Chapter 9.9, Problem 7E 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.Suppose the total revenue for a certain product is given by R ( x ) = 36 x −  0 .01 x 2 .(a) Graph the marginal revenue function for this product.(b) At what value of x will total revenue be maximized?(c) What is the maximum revenue?

(a)

To determine

To graph: The marginal revenue function for the product If the total revenue for this product is represented by the function R(x)=36x0.01x2.

Explanation

Given information:

The provided total revenue for this product is represented by the function,

R(x)=36x0.01x2

Formula used:

The marginal revenue generated on a sale of x units of product is given by,

MR¯=R(x)

Graph:

Consider the total revenue function,

R(x)=36x0.01x2

Now to get the marginal revenue for this product, differentiate the revenue function R(x)=36x0.01x2 with respect to x.

Therefore,

MR¯=R(x)=360.02x

The graph of the functions can be made by using Ti-83 calculator follow the steps below as:

Step 1: Open Ti-83 calculator

(b)

To determine

To calculate: The value of x which provides the maximum total revenue, If the total revenue for this product is represented by the function R(x)=36x0.01x2.

(c)

To determine

To calculate: The value of the maximum revenue, If the total revenue for this product is represented by the function R(x)=36x0.01x2.

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 all solutions of the equation. 22. 2x2 2x + 1 = 0

Single Variable Calculus: Early Transcendentals, Volume I

For the following scores, find the value of each expression: X 3 2 4 2 a. X b. (X)2 c. X 2 d. (X 2)

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

The difference between population variance and sample variance.

Statistics for The Behavioral Sciences (MindTap Course List)

Evaluate 6 8 24 30

Study Guide for Stewart's Multivariable Calculus, 8th

∫x−4dx = −4x−5 + C

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th 