Last updated at Dec. 16, 2024 by Teachoo
Ex 6.1, 16 The total revenue in Rupees received from the sale of ๐ฅ units of a product is given by R(๐ฅ) = 13๐ฅ2 + 26๐ฅ + 15. Find the marginal revenue when ๐ฅ = 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 = ๐ ๐น/๐ ๐ Given, Total revenue = R(๐ฅ)=13๐ฅ^2+26๐ฅ+15 We need to find marginal revenue when ๐ฅ = 7 i.e. MR when ๐ = 7 MR = ๐(๐ (๐ฅ))/๐๐ฅ MR = ( ๐(13๐ฅ^2 + 26๐ฅ + 15))/๐๐ฅ MR = ๐(13๐ฅ^2 )/๐๐ฅ+๐(26๐ฅ)/๐๐ฅ+๐(15)/๐๐ฅ MR = 13 ๐(๐ฅ^2 )/๐๐ฅ+ 26 ๐(๐ฅ)/๐๐ฅ+0 MR = 13 ร 2๐ฅ+26 MR = 26๐ฅ+26 MR = 26 (๐+๐) We need to find MR when ๐ฅ=7 Putting ๐ฅ=7 MR = 26 (7+1) MR = 26 ร 8 MR = 208 Hence Required marginal Revenue is Rs 208
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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo