suppose the Total Revenue function for a product is given by R(x)=V0•1x+0-2x² (R-4,x--u) a) Find the Rate of change in Tota) Revenue or Morginal Revenue . a) b) Find Margina) Revenue nhen x=4 units are sold and slate nhatitpredicts for the sale of the next unit c) Firid the Actual change in To tol Revenue uhen productm Level is ingeased from 4 to 5 units di Esplainany discreponcy hetncen parls (1) and (c)resuHs mathemohie ally / Graphically d)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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suppose
the Total Revenue function for a product
is given by R(x)=V0•1x+0-2x² (R-4,x--u)
a) Find the Rate of change in Tota) Revenue or Morginal Revenue .
a)
b) Find Margina) Revenue nhen x=4 units
are sold and slate nhatitpredicts for the
sale of the next unit
c) Firid the Actual change in To tol Revenue
uhen productm Level is ingeased from 4
to 5 units
di Esplainany discreponcy hetncen parls (1)
and (c)resuHs mathemohie ally / Graphically
d)
Transcribed Image Text:suppose the Total Revenue function for a product is given by R(x)=V0•1x+0-2x² (R-4,x--u) a) Find the Rate of change in Tota) Revenue or Morginal Revenue . a) b) Find Margina) Revenue nhen x=4 units are sold and slate nhatitpredicts for the sale of the next unit c) Firid the Actual change in To tol Revenue uhen productm Level is ingeased from 4 to 5 units di Esplainany discreponcy hetncen parls (1) and (c)resuHs mathemohie ally / Graphically d)
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