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Marginal-Revenue Product A manufacturer has determined that m employees will produce a total of q units of product per day

Marginal-Revenue Product A manufacturer has determined that m employees will produce a total of q units of product per day, where q= m(60 – m) If the demand function is given by p= -0.02q + 12 find the marginal-revenue product when m = 10. 5. Textbook p.536: Question 52 of Review Problems of Chapter 11. (a) Find the marginal revenue when m= 10. Interpret your answer. (10 marks) (b) Find also the derivative (which is called the marginal-revenue product) when m = 10, dm where R is the total daily revenue the manufacturer receives for selling all the products produced each day. Interpret your answer. (10 marks)

Feb 07 2020 View more View Less

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