SOLUTION: Marginal revenue. A defense attorney charges her client $4000 plus $120 per hour. The formula R  120n  4000 gives her revenue in dollars for n hours of work. What is her reve

Algebra ->  Graphs -> SOLUTION: Marginal revenue. A defense attorney charges her client $4000 plus $120 per hour. The formula R  120n  4000 gives her revenue in dollars for n hours of work. What is her reve      Log On


   

Question 154152: Marginal revenue. A defense attorney charges her client
$4000 plus $120 per hour. The formula R  120n  4000
gives her revenue in dollars for n hours of work. What is
her revenue for 100 hours of work? What is her revenue
for 101 hours of work? By how much did the one extra
hour of work increase the revenue? (The increase in
revenue is called the marginal revenue for the 101st hour.)
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A defense attorney charges her client $4000 plus $120 per hour.
The formula R = 120n + 4000 gives her revenue in dollars for n hours of work.
What is her revenue for 100 hours of work?
What is her revenue for 101 hours of work?
By how much did the one extra hour of work increase the revenue?
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R(100) = 120*100 + 4000
R(100) = 1200 + 4000
R(100) = 5200
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R(101) = 120*101 + 4000
R(101) = 5200 + 120 = 5320
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Each additional hour increases her revenue by $120.00.
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Notice that the 120 is the slope of the function.
margin for business is the same as slope for mathematics.
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Cheers,
Stan H.