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Solve the following.
The Revenue function for x units of a commodity is R(x) = x³ + 3x² - 7x + 16. Calculate the…
The Revenue function for $x$ units of a commodity is $R(x) = x^3 + 3x^2 - 7x + 16$. Calculate the Marginal Revenue at $x = 5$.
Answer
Answer
Marginal revenue $MR=\frac{dR}{dx}=3x^2+6x-7$.
At $x=5$: $MR=75+30-7=98$.
Final answer: $98$