The revenue equation (in hundreds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0631x^2 +1.3878x +2.1447 where x is in hundreds of millions of bushels. Find the marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels.

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belgrad belgrad · Answer 1 · 2020-03-26T12:28:59+01:00

Answer:

Marginal revenue equation is 0.1262x +1.3878 the production of the given number of bushels.

Step-by-step explanation:

Explanation:-

Given the revenue equation is R(x)=0.0631x^2 +1.3878x +2.1447

where 'x' is in hundreds of millions of bushels.

marginal revenue formula is calculated by dividing the change in quantity sold

[tex]marginal revenue equation = \frac{dR}{dx}[/tex]

Now differentiating R(x) with respective to 'x' , we get

[tex]\frac{dR}{dx} = 0.0631(2x) +1.3878(1)+0[/tex]

conclusion:-

Marginal revenue equation is 0.1262x +1.3878 where 'x' the production of the given number of bushels.