Simplify (ab)2 + (b3 - a2) if a = -2 and b = 4
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Given:
Marginal revenue (in dollars per unit) for a month is
To find:
The total revenue from the production and sale of 30 units.
Solution:
We know that, total revenue is integration of marginal revenue with respect to quantity.
Now, substitute x=30 in the equation of Total Revenue (TR).
Therefore, the total revenue from the production and sale of 30 units is $11,775.