My Math Forum  

Go Back   My Math Forum > College Math Forum > Calculus

Calculus Calculus Math Forum

LinkBack Thread Tools Display Modes
February 8th, 2011, 09:51 PM   #1
Joined: Feb 2011

Posts: 6
Thanks: 0

Calculus:Chain Rule - Marginal Revenue Product

A factory owner who employes m workers finds that they produce

q= 1.8m(1.8m+9)^3/2 units of product per day.

The total revenue R in dollars is

R=1029q / (336672+4q)^1/2

(c) The marginal-revenue product is defined as the rate of change of revenue with respect to the number of employees. Therefore,
marginal-revenue product=dR/dm

If q and R are given as above then, when m= 15, the marginal-revenue product is _________ ? dollars/(one worker). This means that if employee number 16 is hired, revenue will increase by approximately _________? dollars per day.
Oranges'n'Lemons is offline  
February 8th, 2011, 10:35 PM   #2
Senior Member
MarkFL's Avatar
Joined: Jul 2010
From: St. Augustine, FL., U.S.A.'s oldest city

Posts: 12,155
Thanks: 463

Math Focus: Calculus/ODEs
Re: Calculus:Chain Rule - Marginal Revenue Product

As this is a calculus problem, I've moved the topic to the Calculus sub-forum. Also, I deleted the duplicate topic, as a question only needs to be posted once. One of the duties of moderating is keeping the forum clear of redundancy. I hope you find this reasonable, as I am not trying to keep you from getting a solution.

That being said, welcome to the forum! You are encouraged to post questions, just pick the most appropriate sub-forum and post the question once.

To find we will need:




Starting with (3) we have:

Continuing with (2) we find:

When m = 15, then we have:

Finally with (1) we find:

When q = 5832, we have:

Now, using the chain rule, we have:

MarkFL is offline  
February 17th, 2013, 10:18 PM   #3
Joined: Feb 2013

Posts: 3
Thanks: 0

Re: Calculus:Chain Rule - Marginal Revenue Product

Im a little confused what is the answer to the first blank?
iwazallwoah is offline  

  My Math Forum > College Math Forum > Calculus

calculuschain, marginal, product, revenue, rule

Search tags for this page
Click on a term to search for related topics.
Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
Derivatives: Chain Rule - Marginal Revenue Product green21317 Calculus 1 February 3rd, 2014 03:05 AM
Calculus:Chain Rule - Marginal Revenue Product li1995717 Calculus 2 October 2nd, 2013 07:31 PM
Marginal Revenue using the Chain Rule pomazebog Calculus 3 February 7th, 2012 11:52 PM
Marginal Revenue Product=dR/dm HELP! ProJO Calculus 4 February 5th, 2011 11:15 PM
Calculus:Chain Rule - Marginal Revenue Product Oranges'n'Lemons Economics 0 December 31st, 1969 04:00 PM

Copyright © 2017 My Math Forum. All rights reserved.