Your list · 0 हिं

Consumer & Producer Surplus · Question 4 of 70

What is the workshop's daily revenue function?

Question 4

EasyOriginal question

A workshop's marginal cost is $MC = 6 + 2x$ and its marginal revenue is $MR = 30 - 4x$ , in rupees, for $x$ items a day. Its fixed cost is ₹20 a day.

What is the workshop's daily revenue function?

R(x) = 30x - 4x^{2}

Correct answerYour answer

R(x) = 30x - 2x^{2} + 20

Correct answerYour answer

R(x) = 30 - 2x

Correct answerYour answer

R(x) = 30x - 2x^{2}

Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

$R(x) = \int (30 - 4x)\,dx = 30x - 2x^{2} + k$ .
Selling nothing earns nothing, so $R(0) = 0$ and $k = 0$ .

Worth noting

Adding 20 borrows the fixed cost; revenue starts at zero.

Concept: Revenue from marginal revenue
Typical timeTypical: 90 s
Your timeYours: —

The rule this testsTotal cost from marginal cost

Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapter All 70 questions in Consumer & Producer Surplus Revise the notes for Consumer & Producer Surplus