Question

Suppose that the revenue function for a certain product is given by R(x) = 17(2x + 1)−1 + 34x − 17 where x is in thousands of units and R is in thousands of dollars. (a) Find the marginal revenue (in thousands of dollars) when 2000 units are sold. $ 34 Incorrect: Your answer is incorrect. thousand (b) How does the revenue change when 2000 units are sold?

Answer 1

Answer:

Step-by-step explanation:

Given that:

R(x) = $\frac{17}{2x+1}$ + 34x − 17

As we know that derivative of revenue function is marginal revenue function .

We will use following rules of derivative

=> dR/ dx = $\frac{-17*2}{(2x+1)^{2} } + 34$

=> R' (x) =   $\frac{-34}{(2x+1)^{2} } + 34$

=> R '(2000) =  $\frac{-34}{(2*2000+1)^{2} } + 34$ = 34

The revenue when 2000 units are sold is:

R(2000) = $\frac{17}{2*2000+1}$ + 34*2000 − 17 = $69,783