Question

2. There is no fixed income related to MR (x) = 50 + 3,5xe-0,01x² in order...

2. There is no fixed income related to
MR (x) = 50 + 3,5xe-0,01x² in order to show the marginal revenue function of a product, x produced and sold in thousand units. In the light of the information;
a) Create the total income function, R (x). It is given as. Sales of products
b) Calculate the average income from the first 6000 units of production and sales.



3. The marginal consumption trend function for consumption material X has been determined as g (x) = 0.9 + 0.5x / 2 (x: disposable income amount). a) Create the total consumption function.
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Homework Answers

Answer #1

2. As I'm not able to interpret the MR(x) function properly, I've attached the procedure to follow in order to find R(x).

Similarly, for b) take a gander at the image below.

3.

Total consumption is simply calculated by integrating the Marginal consumption with respect to x. The solution is shown below.

Hope this helps. Do hit the thumbs up. Cheers!

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