(a) Graph the marginal revenue function from Problem 4.
(b) Determine the number of units that must be sold to maximize total revenue.
(c) What is the maximum revenue?
Suppose that the total revenue function for a commodity is R(x) = 25x - 0.05x2.
(a) Find R(50) and tell what it represents.
(b) Find the marginal revenue function.
(c) Find the marginal revenue at x = 50, and tell what it predicts about the sale of the next unit and the next 2 units.
(d) Find R(51) - R(50) and explain what this value represents.