February 24th, 2014, 08:13 PM  #1 
Newbie Joined: Feb 2014 Posts: 1 Thanks: 0  marginal revenue
The demand function of a product is given by D(x) = (.5x^2+3x+190)^1/2 dollars, where x is the number of items sold. What is the marginal revenue when 6 items are sold? Round to two decimals.

February 25th, 2014, 04:28 AM  #2 
Math Team Joined: Sep 2007 Posts: 2,409 Thanks: 6  Re: marginal revenue
That's pretty straight forward if you know the basic definitions. Strictly speaking, the "marginal" revenue is the revenue from selling "one more" item. So the exact way of doing this is to calculate the revenue (demand price times number of items sold) when x= 6 and x= 7 and subtracting. But that can be approximated by finding the derivative of the revenue function and evaluating the derivative at x= 6.


Tags 
marginal, revenue 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
Marginal revenue  ik2244  Calculus  7  February 17th, 2013 09:48 PM 
marginal revenue  kevpb  Calculus  4  June 7th, 2012 08:15 PM 
Marginal Revenue Product=dR/dm HELP!  ProJO  Calculus  4  February 5th, 2011 11:15 PM 
Marginal revenue  happy8588  Economics  2  October 11th, 2010 09:30 AM 
Marginal revenue  happy8588  Real Analysis  0  December 31st, 1969 04:00 PM 