My Math Forum Calculus:Chain Rule - Marginal Revenue Product

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 October 2nd, 2013, 06:04 PM #1 Newbie   Joined: Oct 2013 Posts: 3 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 (a) From the fact that revenue =(price per unit)(number of units) it follows that R=(price per unit)q So when there are 15 workers, the price per unit is 1.7150 dollars. (b) When there are 15 workers, the marginal revenue is ??? dollars/(one unit of product). (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.
 October 2nd, 2013, 07:01 PM #2 Senior Member     Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,155 Thanks: 465 Math Focus: Calculus/ODEs Re: Calculus:Chain Rule - Marginal Revenue Product This topic may be of some help: http://mymathforum.com/viewtopic.php...posted#p109478
October 2nd, 2013, 07:31 PM   #3
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Re: Calculus:Chain Rule - Marginal Revenue Product

Quote:
 Originally Posted by MarkFL This topic may be of some help: http://mymathforum.com/viewtopic.php...posted#p109478

sorry, I know this question solve is R'(q)

But I try lots of time for this
Now, I only have 1 times to try this question. Could you tell me what is the number answer of this quesiton?
Thanks a lot

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