Calculate revenue from the sale of 100 products.

  • MHB
  • Thread starter swag312
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In summary, the marginal revenue function at output x is MR (x) = 2x + 3, with x representing the number of products sold. The revenue from the sale of 100 products can be calculated by finding the integral of the marginal revenue function with respect to x from 0 to 100.
  • #1
swag312
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The marginal revenue function at output x is
MR (x) = 2x + 3.
Calculate revenue from the sale of 100 products.Can't find a way to complete this task, is it somehow connected with derivatives?
 
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  • #2
You'll have to do better than that. "Marginal" sounds like it might BE the derivative, no?
 
  • #3
Yes, if I remember correctly (I once had the "pleasure" of teaching a "Math for economics and Business Administration" class) the "marginal revenue" is the derivative of a continuous revenue function ("first difference" if it is defined only for integers). So given that the marginal revenue is [tex]2x+ 3[/tex] the revenue from the sale of 100 products is the integral of 2x+ 3 with respect to x from 0 to 100.
 
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Related to Calculate revenue from the sale of 100 products.

1. How do I calculate the total revenue from the sale of 100 products?

To calculate the total revenue, you will need to know the price of each product and the number of products sold. Simply multiply the price by 100 to get the total revenue.

2. What if the price of each product is different?

If the prices vary, you will need to calculate the total revenue for each product separately and then add them together to get the overall revenue.

3. Can I calculate the revenue if I only know the total sales and the average price per product?

Yes, you can calculate the revenue by multiplying the total sales by the average price per product. This will give you an estimate of the total revenue.

4. Is there a formula for calculating revenue?

Yes, the formula for calculating revenue is: Revenue = Price x Quantity. In this case, the quantity would be 100 products.

5. What other factors should I consider when calculating revenue from the sale of 100 products?

Other factors to consider include any discounts or promotions applied to the sale, any additional costs such as shipping or taxes, and any returns or refunds that may affect the total revenue.

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