If the Revenue Function Is $R ( x ) = x ^ { 2 / 3 } + 2 x ^ { 1 / 2 } + 6 x + 2$

question 67

Multiple Choice

If the revenue function is $R ( x ) = x ^ { 2 / 3 } + 2 x ^ { 1 / 2 } + 6 x + 2$ for producing a product, find the marginal revenue at a production level of 10 units.

• A) \(\frac { 2 } { 3 }\) \(( 10 ) ^ { - 1 / 3 }\) + \(( 10 ) ^ { - 1 / 2 }\) + 6
• B) \(\frac { 2 } { 3 }\) \(( 10 ) ^ { - 1 / 3 }\) + \(4 ( 10 ) ^ { - 1 / 2 }\) + 6
• C) \(( 10 ) ^ { 2 / 3 }\) + 2 \(\text { (10) } 1 / 2\) + 6(10) + 2
• D) \(\frac { 2 } { 3 }\) \(( 10 ) ^ { - 1 / 3 }\) + \(( 10 ) ^ { 1 / 2 }\) + 6
• E) \(\frac { 2 } { 3 }\) \(( 10 ) ^ { 1 / 3 }\) + \(( 10 ) ^ { 1 / 2 }\) + 6

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Definitions:

Profit-Maximizing

A strategy or process businesses use to achieve the highest possible profit from their operations.

Total Profit

The total income of a business after subtracting all expenses from the total revenue obtained from sales and other sources.

Profit-Maximizing

Profit-maximizing is the process by which a firm determines the price and output level that returns the greatest profit.

Marginal Cost

The surplus cost involved in the production of an extra unit of a product or service.