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Question
The total revenue received from the sale of x units of a product is given by R(x) = 3x2 + 36x + 5. Find the marginal revenue when x = 5.
Sum
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Solution
Given, R(x) = 3x2 + 36x + 5
Marginal revenue:
MR = `d/dx(3x^2 + 36x + 5)`
= 6x + 36
∴ MR(x = 5) = 6(5) + 36
= 30 + 36
= 66
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Application of Calculus in Commerce and Economics in the Marginal Revenue Function and Its Interpretation
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