Answer to Question #126989 in Calculus for Christian

Question

a. A manufacturer’s marginal revenue function is
2 MR x x    105 0.3
. Find the increase in
the manufacturer’s total revenue if production is increased from 10 to 20 units. 4 marks
b. A firm has a marginal revenue given by
3 1
2 7 20
MR
x
 

, where
x
is the output. Find
the corresponding demand function. 6 marks
c. Given that the elasticity of demand for a commodity is given by
3 2 ,
xp
e p  
where
p
denotes the price per unit of the commodity. find the demand function
x

Answer 1

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