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February 24th, 2014, 08:13 PM   #1
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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.
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February 25th, 2014, 04:28 AM   #2
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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.
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