Hi!
I've been stuck on this question for the last hour... I just can't seem to figure it out.
The problem consists of 3 parts: A, B, C.
I've managed to figure out part A, but not B and C.
Please see the attached image!
Thank you for looking!
Hi!
I've been stuck on this question for the last hour... I just can't seem to figure it out.
The problem consists of 3 parts: A, B, C.
I've managed to figure out part A, but not B and C.
Please see the attached image!
Thank you for looking!
this is the marginal revenue function, the derivative of the total revenue function $\displaystyle MR(q)=810\, \left( 314896+3\,q \right) ^{- 0.5}- 1215\,q \left( 314896+3\,
q \right) ^{- 1.5}$
you need to sub in the value of 10 for m in the first function to get a value of q which you sub into the MR function.
for (c), redefine the total revenue function in terms of m and differentiate it w.r.t m to get the MRP function. the answer should follow after that.
hope that helps.