Finding rate of change
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Finding rate of change
Last updated at May 6, 2021 by Teachoo
Ex 6.1, 16 The total revenue in Rupees received from the sale of π₯ units of a product is given by R(π₯) = 13π₯2 + 26π₯ + 15. Find the marginal revenue when π₯ = 7. Marginal revenue is rate of change of total revenue w. r. t the number of unit sold Let MR be marginal revenue So, MR = π πΉ/π π Given, Total revenue = R(π₯)=13π₯^2+26π₯+15 We need to find marginal revenue when π₯ = 7 i.e. MR when π = 7 MR = π(π (π₯))/ππ₯ MR = ( π(13π₯^2 + 26π₯ + 15))/ππ₯ MR = π(13π₯^2 )/ππ₯+π(26π₯)/ππ₯+π(15)/ππ₯ MR = 13 π(π₯^2 )/ππ₯+ 26 π(π₯)/ππ₯+0 MR = 13 Γ 2π₯+26 MR = 26π₯+26 MR = 26 (π+π) We need to find MR when π₯=7 Putting π₯=7 MR = 26 (7+1) MR = 26 Γ 8 MR = 208 Hence Required marginal Revenue is Rs 208