you and a friend go out to dinner. the cost of the meal is 45.22 and tou leave a 20% tip. you both decide to split thw bill even
ly. how much do you each pay
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The x-value increases by a factor of 5 from 1.6 to 8 between the two points. Because the variation is inverse, the y-value must decrease by a factor of 5 between the two points.
6/5 = 1.2
The second point is (8, 1.2), corresponding to the 4th selection.
6/5 = 1.2
The second point is (8, 1.2), corresponding to the 4th selection.
Marginal Revenue is defined as the revenue generated with respect to increase in sale of another extra unit of product.
So we will calculate Marginal Revenue equation by finding the change in Revenue with respect to change in Quantity.
Given the Total Revenue Function as:-
Differentiating Total Revenue function (Tr) with respect to quantity (q):-
So Marginal Revenue equation will be,