Total revenue is in dollars and x is the number of units. Suppose that the total revenue function for a commodity is R = 64x - 0.02x². (a) Find R(100). $ Tell what it represents. The actual revenue of the 100th unit is this amount. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The revenue decreases by about this amount when the number of units is increased from 100 to 101. (b) Find the marginal revenue function. MR = (c) Find the marginal revenue (in dollars per unit) at x = 100. per unit Tell what it predicts about the sale of the next unit and the next 3 units. The sale of the next unit will |---Select--- ✓ the revenue by about $ (d) Find R(101) - R(100). The sale of the next 3 units will ---Select--- the revenue by about $ Explain what this value represents. actual revenue from 101 units marginal revenue at x = 100 actual revenue from the 101st unit actual revenue from 100 units actual revenue from the 100th unit
Total revenue is in dollars and x is the number of units. Suppose that the total revenue function for a commodity is R = 64x - 0.02x². (a) Find R(100). $ Tell what it represents. The actual revenue of the 100th unit is this amount. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The revenue decreases by about this amount when the number of units is increased from 100 to 101. (b) Find the marginal revenue function. MR = (c) Find the marginal revenue (in dollars per unit) at x = 100. per unit Tell what it predicts about the sale of the next unit and the next 3 units. The sale of the next unit will |---Select--- ✓ the revenue by about $ (d) Find R(101) - R(100). The sale of the next 3 units will ---Select--- the revenue by about $ Explain what this value represents. actual revenue from 101 units marginal revenue at x = 100 actual revenue from the 101st unit actual revenue from 100 units actual revenue from the 100th unit
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter3: Polynomial And Rational Functions
Section3.1: Quadratic Functions And Models
Problem 58E: Agriculture At a certain vineyard it is found that each grape vine produces about 10 lb of grapes in...
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