Question

The revenue equation​ (in hunderds of millions of​ dollars) for barley production in a certain country is approximated by Upper R (x )equals0.0687 x squared plus 1.3014 x plus 2.2797 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.

Answer 1

MR(x) = 0.1374x+1.3014

Step-by-step explanation:

The question is incomplete. However, it is about the calculation of marginal revenue from the equation of revenue. The equation of revenue is shown below:

`R(x) = 0.0687x^(2) +1.3014x+2.2797`

The marginal revenue is determined from the derivative of the revenue. Therefore, we have:

Marginal revenue [MR(x)] =
`(dR)/(dx)` = 0.0687*2x+1.3014

Thus:

MR(x) = 0.1374x+1.3014

If x = 500,000,000 bushels,

MR = 0.1374*500+1.3014 = 70.0014