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Question

# The demand for a certain product is represented by the equation p=500+25x−x23 in rupees where x is the number of units and p is the price 3 per unit. Find: (i) Marginal revenue function. (ii) The marginal revenue when 10 units are sold.

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Solution

## i ) To find Marginal Revenue function Demand for a certain Product is represented by the Equation p=500+25x−x23 Where x is the number units and p is the price per unit Marginal Revenue function is the derivative of the revenue function So , Revenue Function is R=x.p R=x.(500+25x−x23) R=(500x+25x2−x33) Now , Marginal Revenue function can be Calculated as =dRdx =ddx(500x+25x2−x33) =(500+50x−3x23) =(500+50x−x2) Hence , Marginal Revenue function=500+50x−x2 units ii) To find Marginal Revenue when 10 units are sold Marginal Revenue function =500+50x−x2 At x=10units =500+50(10)−52 =1000−25 =975 units

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