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February 8th, 2011, 09:51 PM  #1 
Newbie 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 marginalrevenue product is defined as the rate of change of revenue with respect to the number of employees. Therefore, marginalrevenue product=dR/dm If q and R are given as above then, when m= 15, the marginalrevenue product is _________ ? dollars/(one worker). This means that if employee number 16 is hired, revenue will increase by approximately _________? dollars per day. 
February 8th, 2011, 10:35 PM  #2 
Senior Member Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,211 Thanks: 520 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 subforum. 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 subforum and post the question once. To find we will need: (1) (2) (3) 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: 
February 17th, 2013, 10:18 PM  #3 
Newbie 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?


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calculuschain, marginal, product, revenue, rule 
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