Marginal revenue function

Asked by maham237 @ 09/01/2021 in Mathematics viewed by 288 People

The marginal revenue function on sales of q units of a product is R'(q)=240-18√q dollars per unit.Estimate the total revenue if sales are 100 units.
What is the marginal revenue at 100 units?
Estimate the total revenue if sales are 101 units.

Answered by maham237 @ 09/01/2021

Total revenue R(q) = ∫R'(q) dq = ∫(240 - 18√q)dq = 240q - 12q^3/2
R(100) = 240(100) - 12(100)^3/2 = 24000 - 12(1000) = $12,000

Marginal revenue at 100 units R'(100) = 240 - 18√100 = 240 - 18(10) = $60

Revenue at 101 units = R(101) = 240(101) - 12(101)^3/2 = 24,240 - 12,180 = $12,060

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