The total revenue received from the sale of unite
of a product is given by :
TR(x)=20x -x2/2
Find
( The average revenue
(1) The marginal revenue
(1) The marginal revenue when x = 5
Answers
Given : total revenue received from the sale of units of a product is given by : R(x)=20x - x²/2
To find : The average revenue
The marginal revenue
The marginal revenue when x = 5
Solution:
R(x)=20x - x²/2
Average revenue = revenue per unit of output sold
Average revenue = R(x)/x = (20x - x²/2 )/x
= 20 - x/2
Average revenue = 20 - x/2
Marginal revenue is the rate of change of total revenue with respect to number of units sold dR/dX
R(x)=20x - x²/2
dR/dX = 20 - 2x/2
=> dR/dX = 20 - x
marginal revenue = 20 - x
marginal revenue when x = 5
= 20 - 5
= 15
marginal revenue = 15 when x = 5
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