Advertisements
Advertisements
Question
If the marginal revenue function is R'(x) = 1500 – 4x – 3x2. Find the revenue function and average revenue function
Advertisements
Solution
Given marginal revenue function
MR = R’(x)= 1500 – 4x – 3x2
Revenue function R(x) = `int "R'"(x) "d"x + "c"`
R = `int (1500 - 4x - 3x^2) "d"x + "c"`
R = 1500x – 2x2 – x3 + c
When x = 0
R = 0
⇒ c = 0
So R = 1500x – 2x2 – x3
Average revenue function P = `"R"/x` ⇒ 1500 – 2x – x2
APPEARS IN
RELATED QUESTIONS
The marginal cost function of a product is given by `"dc"/("d"x)` = 100 – 10x + 0.1x2 where x is the output. Obtain the total and the average cost function of the firm under the assumption, that its fixed cost is ₹ 500
If the marginal cost function of x units of output is `"a"/sqrt("a"x + "b")` and if the cost of output is zero. Find the total cost as a function of x
Given the marginal revenue function `4/(2x + 3)^2 - 1` show that the average revenue function is P = `4/(6x + 9) - 1`
Calculate consumer’s surplus if the demand function p = 50 – 2x and x = 20
Calculate the producer’s surplus at x = 5 for the supply function p = 7 + x
Under perfect competition for a commodity the demand and supply laws are Pd = `8/(x + 1) - 2` and Ps = `(x + 3)/2` respectively. Find the consumer’s and producer’s surplus
Choose the correct alternative:
The demand and supply functions are given by D(x) = 16 – x2 and S(x) = 2x2 + 4 are under perfect competition, then the equilibrium price x is
Choose the correct alternative:
The marginal cost function is MC = `100sqrt(x)`. find AC given that TC = 0 when the output is zero is
For the marginal revenue function MR = 6 – 3x2 – x3, Find the revenue function and demand function
A company requires f(x) number of hours to produce 500 units. It is represented by f(x) = 1800x–0.4. Find out the number of hours required to produce additional 400 units. [(900)0.6 = 59.22, (500)0.6 = 41.63]
