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
Given the marginal revenue function `4/(2x + 3)^2 - 1` show that the average revenue function is P = `4/(6x + 9) - 1`
A firm’s marginal revenue function is MR = `20"e"^((-x)/10) (1 - x/10)`. Find the corresponding demand function
If MR = 20 – 5x + 3x2, Find total revenue function
If MR = 14 – 6x + 9x2, Find the demand function
The demand function for a commodity is p = e–x .Find the consumer’s surplus when p = 0.5
Find the consumer’s surplus and producer’s surplus for the demand function pd = 25 – 3x and supply function ps = 5 + 2x
Choose the correct alternative:
For the demand function p(x), the elasticity of demand with respect to price is unity then
Choose the correct alternative:
The demand and supply function of a commodity are P(x) = (x – 5)2 and S(x) = x2 + x + 3 then the equilibrium quantity x0 is
Choose the correct alternative:
If MR and MC denote the marginal revenue and marginal cost and MR – MC = 36x – 3x2 – 81, then the maximum profit at x is equal to
For the marginal revenue function MR = 6 – 3x2 – x3, Find the revenue function and demand function
