(a) Explanation Given Information: The revenue function is R ( x ) = 250 x − 0.01 x 2 dollars and the cost function for the company is C ( x ) = 200 x + 10000 dollars, where x is the number of units produced and sold. Formula used: Power rule: If y = u n and u is differentiable function of x , then, d y d x = n u n − 1 ⋅ d u d x According to the property of differentiation, if a function is of the form f ( x ) = u ( x ) + v ( x ) , then, f ′ ( x ) = u ′ ( x ) + v ′ ( x ) Calculation: Consider the provided revenue function, R ( x ) = 250 x − 0.01 x 2 Also, consider the marginal revenue to be R ′ ( x ) (b) To determine To calculate: The value of R ( 72 ) and R ′ ( 72 ) along with the representation made by them.

11th Edition

ISBN: 9781305713864

Author: HARSHBARGER

Publisher: CENGAGE L

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Chapter 9, Problem 10T

(a)

To determine

To calculate: The marginal revenue function for the company with total revenue, R(x)=250x−0.01x2 dollars.

(b)

To determine

To calculate: The value of R(72) and R′(72) along with the representation made by them.

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Chapter 9, Problem 9T

Chapter 9, Problem 11T

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The marginal revenue function for the company with total revenue, R ( x ) = 250 x − 0.01 x 2 dollars.

Solution Summary: The author calculates the marginal revenue function for the company with total revenue, R(x)=250x-0.01x