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Math Help - derivatives of log function application

  1. #1
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    derivatives of log function application

    suppose the demand function for q units for a certain item is

    p=d(q)=100+(50/lnq),q>1

    where q is in dollars

    a) find the marginal revenue.
    b)approximate the revenue from one more unit when 8 units are sold.
    c)how might a manager use the information from part b?

    As for this one, I figuared out that R'=50q^2+50/lnq+100

    but I have no idea for part b and c
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  2. #2
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    Quote Originally Posted by shannon1111 View Post
    suppose the demand function for q units for a certain item is

    p=d(q)=100+(50/lnq),q>1

    where q is in dollars
    You have already said that q is "units for a certain item". Did you mean to say that p is in dollars?

    a) find the marginal revenue.
    b)approximate the revenue from one more unit when 8 units are sold.
    c)how might a manager use the information from part b?

    As for this one, I figuared out that R'=50q^2+50/lnq+100

    but I have no idea for part b and c
    The "revenue from one more unit when 8 units are sold" is R(9)- R(8).
    Because R'(8)= lim (R(8+h)- R(8))/h, we can approximate R'(8) by taking h= 1. R'(8) is approximately R(9)- R(8). What is R'(8)?
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