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October 2nd, 2013, 07:04 PM   #1
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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.
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October 2nd, 2013, 08:01 PM   #2
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Re: Calculus:Chain Rule - Marginal Revenue Product

This topic may be of some help:

http://mymathforum.com/viewtopic.php...posted#p109478
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October 2nd, 2013, 08:31 PM   #3
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Re: Calculus:Chain Rule - Marginal Revenue Product

Quote:
Originally Posted by MarkFL

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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