Question

The marginal revenue in USD for business A for selling x units per day of some...

The marginal revenue in USD for business A for selling x units per day of some product is given by M( x ) = 3 x + 1. What is the the net change in revenue if sales increase from 7 products per day to 12 products per day? Hint: How are marginal revenue and revenue related?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A company's revenue from selling x units of an item is given as R=1600x−3x^2. If sales...
A company's revenue from selling x units of an item is given as R=1600x−3x^2. If sales are increasing at a rate of 50 units per day, how rapidly is the revenue increasing per day when 210 units have been sold? (Solve this problem using related rates.)
A company's revenue from selling x units of an item is given as R=1600x−x^2 If sales...
A company's revenue from selling x units of an item is given as R=1600x−x^2 If sales are increasing at the rate of 40 units per day, how rapidly is revenue increasing (in dollars per day) when 250 units have been sold? ___ dollars per day
A company's revenue from selling x units of an item is given as R=1900x−2x^2. If sales...
A company's revenue from selling x units of an item is given as R=1900x−2x^2. If sales are increasing at the rate of 50 units per day, how rapidly is revenue increasing (in dollars per day) when 360 units have been sold? ? dollars per day The cost of producing x units of stuffed alligator toys is C(x)=0.002x^2+7x+5000. Find the marginal cost at the production level of 1000 units. ? dollars/unit Suppose a product's revenue function is given by R(q)=−7q^2+600q ,...
Marginal Revenue Product and Demand Units of Variable Factor Total Products 0 0 1 20 2...
Marginal Revenue Product and Demand Units of Variable Factor Total Products 0 0 1 20 2 50 3 90 4 120 5 140 6 150 7 150 8 140 Reference: Ref 12-1 (Exhibit: Marginal Revenue Product and Demand) If the product price is $2 per unit and the price of the factor of production is $1080 per unit, the profit-maximizing quantity of the factor is _______ units. a. 6 b. 2 c. 0 d. 4
You are presently selling 1000 cups of coffee per day at $1.00 per cup. You want...
You are presently selling 1000 cups of coffee per day at $1.00 per cup. You want to increase sales by dropping the price to $0.80 per cup. The Price Elasticity of Demand is -2.2. What is your expected new level of sales? Compare Total Revenue before and after the change in price. How would you characterize this product?
Quantity of Good X (units) Marginal Utility (Good X) Quantity of Good Y (units) Marginal utility...
Quantity of Good X (units) Marginal Utility (Good X) Quantity of Good Y (units) Marginal utility (Y) 1 22 1 16 2 21 2 15 3 20 3 14 4 18 4 13 5 16 5 12 6 14 6 11 7 12 7 10 Consider an individual who is deciding on how much of good X and good Y to buy in order maximize her utility. The individual has $56 to spend on the two goods and the price...
12. 40 pieces of certain goods are sold every day in the shop. Profit per one...
12. 40 pieces of certain goods are sold every day in the shop. Profit per one piece of this product is 240 USD. a) Expert A claims that lowering the price by x USD will increase daily sales of this product by x pieces. How much should I lower the price to make the profit? How much will the profit increase then? b) Expert B claims that increasing the price by USD (20 * x) will decrease the daily sale...
A manufacturer finds that the revenue generated by selling x units of a certain commodity is...
A manufacturer finds that the revenue generated by selling x units of a certain commodity is given by the function R(x) = 80x − 0.5x2, where the revenue R(x) is measured in dollars. What is the maximum revenue, and how many units should be manufactured to obtain this maximum? $ _______, at ______units
The marginal revenue of a company is given by r(x)=x^3-0.3x^2+0.1 and the marginal cost is given...
The marginal revenue of a company is given by r(x)=x^3-0.3x^2+0.1 and the marginal cost is given by c(x)=x\sqrt{-x^2+100} both measured in thousands of dollars per hundred units (x) produced. Find the total profit for x=1 to x=4 hundred units produced.
Quantity of Good X (units) Marginal Utility (Good X) Quantity of Good Y(units) Marginal Utility (Good...
Quantity of Good X (units) Marginal Utility (Good X) Quantity of Good Y(units) Marginal Utility (Good Y) 1 32 1 24 2 28 2 20 3 24 3 16 4 20 4 12 5 16 5 10 6 14 6 10 7 12 7 9 8 10 8 8 Consider an individual who is deciding on how much of good X and good Y to buy in order maximize her utility. The individual has $20 to spend on the two...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT