Help!!!! Will give brainliest
2 answers:
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Answer:
Marginal revenue at max revenue = 0
Instantaneous rate of change of revenue at 400 steam irons is 100
Step-by-step explanation:
We have the price-demand equation as
Express p in terms of x
Adding 2p on both sides and subtracting x from both sides yields
Dividing by 2 on both sides gives us
The total revenue from selling x steam irons is given by
(1)
This revenue is maximized when the first differential is zero
First differential of =
(2)
Setting this equal to zero and solving for will give us the value of
at which the revenue is maximum and therefore the marginal revenue
Setting
gives
x = 500
At this demand level marginal revenue is 0
ie the number of steam irons to be sold to maximize revenue
The revenue at this demand level is given by plugging in this value into equation (1)
At x = 400, the instantaneous rate of change is given by plugging in this value into Equation (2)
and the revenue at x = 400 is obtained by plugging in 400 for the value of x in Eq 1
Hope that helps