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Chrome-Do Homework-forrest tanner Secure https://www.mathxl.com/Student/PlayerHomeworkaspx?homeworkld-444933172&questionld; s mal Math 1066_11 Fall2017 Homework: Section 11.5: Tech. for Finding Der. (Part II) Save me Score: 0 of 1 pt 10 of 13 (4 complete) Score: 30.77%, 4 of 13 Bus Econ 11.5.55 Question Help Tests Assume that a demand equation is given by q- 8000-100p. Find the marginal revenue for the given production levels (values of q). (Hint: Solve the demand equation for p and use R(a)-op) a. 1500 units The marginal revenue at 1500 units is (Simplify your answer) ontents Success a Library Option 1) 0r1) ns ools ments Enter your answer in the answer box and then click Check Answer parts 2 This course (Math 1066 11 Fail2017) is based on Lial Mat

Explanation / Answer

since q is the number of units, q is like x. we have to solve for p as the following:

q = 8000 - 100p
100p = 8000 - q
p = 80 - (1/100) * q
p( q ) = 80 - (1/100) * q

R ( q ) = q * p(q)
R ( q ) = q * ( 80 - (1/100) * q )
R ( q ) = 80q - (1/100) * q^2 <---- Revenue function

Marginal Revenue: derivative of  Revenue function
R ' ( q ) = 80 - (1/50) * q <---- q = 1500
R ' ( 1500 ) = 80 - (1/50) * 1500
R ' ( 1500 ) = 80 - 30
R ' ( 1500 ) = $ 50 which is a increase.

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