A linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is the slope m?
ma
(b) What is the marginal revenue MR?
MR =
What does the marginal revenue mean?
O Each additional unit sold yields this many dollars in revenue.
If the number of units sold is increased by this amount, the revenue decreases by $1.
O Each additional unit sold decreases the revenue by this many dollars.
0 If the number of units sold is increased by this amount, the revenue increases by $1.
(c) What is the revenue received from selling one more item if 50 are currently being sold?
$
What is the revenue received from selling one more item if 100 are being sold?
$