A linear revenue function is R = 38.11x. (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. Each additional unit sold decreases the revenue by this many dollars. 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. (c) What is the revenue received from selling one more item if 48 are currently being sold?
A linear revenue function is R = 38.11x. (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. Each additional unit sold decreases the revenue by this many dollars. 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. (c) What is the revenue received from selling one more item if 48 are currently being sold?
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.4: Functions Given By Words
Problem 13E
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Transcribed Image Text:A linear revenue function is R = 38.11x.
(a) What is the slope m?
m =
(b) What is the marginal revenue MR?
MR =
What does the marginal revenue mean?
O If the number of units sold is increased by this amount, the revenue increases by $1.
Each additional unit sold decreases the revenue by this many dollars.
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.
(c) What is the revenue received from selling one more item if 48 are currently being sold?
What is the revenue received from selling one more item if 78 are being sold?
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