I need help with a calculus problem

label Calculus
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Nov 17th, 2015

Thank you for the opportunity to help you with your question!

Excuse I lost the answer.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 17th, 2015

Pardon for the blunder but am ansering the question here

Nov 17th, 2015

if you can include step by step how u got each answer that would help me more

Nov 17th, 2015

a. current revenue = 0.006(60^3)+0.04(60^2)+0.4(60) =1464

b. R(64) = 0.006(64^3)+0.04(64^2)+0.4(64) = 1762.30

Revenue increases by R(64)-R(60) = 1762.3-1464 =298.30

c. Marginal revenue function(MR) is the derivative of the total revenue function

hence MR(X) =0.018X^2+0.08X+0.4

MR(60) = 0.018(60^2)+ 0.08(60) +0.4 =70

d.

R(61) =R(60)+MR(60)=1464+70 =1534

R(62) =R(61)+MR(61) =1634+(0.018*61^2+0.08*61+0.4) = 1534+72.26 =1606.26

R(63) =R(62)+MR(62)=1606.26+(0.018*62^2+0.08*62+0.4) =1606.26+74.55 =1680.81


Nov 17th, 2015

I hope that is ok by you. Is it understandable?


Nov 17th, 2015

if you can include step by step how u got each answer that would help me more

Nov 17th, 2015

a. Given that, R(x)=0.006x^3+0.04x^2+0.4x, to find the value of current revenue, we substitute 60(current quantity of production) into x in the equation.Therefore,

current revenue = 0.006(60^3)+0.04(60^2)+0.4(60) =1464


b. R(64) is the value of revenue when production(x) is 64 units

 R(64) = 0.006(64^3)+0.04(64^2)+0.4(64) = 1762.30

To get the value by which revenue increases, we subtract the amunt of evenue at x=60 from the amount of revenue at x=64. Hence,

Revenue increases by R(64)-R(60) = 1762.3-1464 =298.30

c. Marginal revenue function(MR) is the derivative of the total revenue function

hence to derive the marginal revenue function,we differentiate the total revenue function R(x)

MR(x) = R'(x)

 MR(X) =0.018X^2+0.08X+0.4

Substituting the value of x(60) into the MR(x) gives,

MR(60) = 0.018(60^2)+ 0.08(60) +0.4 =70

d.

R(61) =R(60)+MR(60)=1464+70 =1534

R(62) =R(61)+MR(61) =1634+(0.018*61^2+0.08*61+0.4) = 1534+72.26 =1606.26

R(63) =R(62)+MR(62)=1606.26+(0.018*62^2+0.08*62+0.4) =1606.26+74.55 =1680.81


Nov 17th, 2015

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