Mathematics, 09.04.2020 02:23 destinyranson

A linear revenue function is
R = 34x.
(Assume R is measured in dollars.)
(a) What is the slope m?
m =

(b) What is the marginal revenue
MR ?

MR =

What does the marginal revenue mean?
If the number of units sold is increased by this amount, the revenue increases by $1.
If the number of units sold is increased by this amount, the revenue decreases by $1.
Each additional unit sold yields this many dollars in revenue.
Each additional unit sold decreases the revenue by this many dollars.

(c) What is the revenue received from selling one more item if 50 are currently being sold?
$

What is the revenue received from selling one more item if 100 are being sold?
$

Answers: 1

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A linear revenue function is
R = 34x.
(Assume R is measured in dollars.)
(a) What...

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