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 revenue for
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Question 202598: 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 marginal revenue for the 101st hour.) please help I can't find the answer to this it confuses me cause I'm thinking that this should be graphed...but I have a similar problem so maybe if i get this one with help i can do the other on my own thank you for taking the time to help me.
Answer by stanbon(75887) (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?
R(100) = 120*100 + 4000
R(100) = 12000 + 4000
R(100) = 16000
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What is her revenue for 101 hours of work?
R(101) = 16120
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By how much did the one extra hour of work increase the revenue.
Ans: $120
( the increase in revenue is called marginal revenue for the 101st hour.) please help I can't find the answer to this it confuses me cause I'm thinking that this should be graphed...but I have a similar problem so maybe if i get this one with help i can do the other on my own thank you for taking the time to help me.
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Cheers,
Stan H.
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