Question

A clothing manufacturer has the marginal revenue function MR(x)=30-0.2x, 0 ≤ x ≤ 100 (in dollars per suit), where x is the number of suits sold each week. Then the total revenue from selling 60 suits is $

Answer 1

Based on the marginal revenue function for the clothing manufacturer, the total revenue from selling 60 suits is $1,440.

What is the total revenue from selling the suits?

The marginal revenue function of 30 - 0.2x is the differentiated revenue function.

Performing an integration will therefore give us the revenue function as:

= 30x - 0.1x²

Now that we have the revenue function and know that x = 60 suits, the revenue is:

= (30 x 60) - (0.1 x 60²)

= 1,800 - 360

= $1,440

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