Question

The demand function of a product is given by p = 30 – 2x, where p is the price per
unit and x is quantity demanded. Find marginal revenue.​

Answer 1

SOLUTION

GIVEN

The demand function of a product is given by

p = 30 – 2x, where p is the price per unit and x is quantity demanded.

TO DETERMINE

The marginal revenue function

EVALUATION

Here it is given that the demand function of a product is given by

p = 30 – 2x,

where p is the price per unit and x is quantity demanded

So revenue function

= R

= x.p

$\sf{ = x.(30 - 2x)}$

$= \sf{30x - 2 {x}^{2} }$

Now Marginal Revenue function is the derivative of the revenue function

Hence the required marginal revenue function

$\displaystyle \sf{ = \frac{dR}{dx} }$

$\displaystyle \sf{ = \frac{d}{dx} (30x - 2 {x}^{2} )}$

$\displaystyle \sf{ = 30 - 4x}$

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Answer 2

Answer:

Step-by-step explanation: