Marginal revenue
Response to the following question:
Waverly Products has found that its revenue is related to advertising expenditures by the function R (x) = 5000 + 16x - 3x2 ,where R(x) is the revenue in dollars when x hundred dollars are spent on advertising.
a) Find the marginal revenue function.
b) Find and interpret the marginal revenue when $1000 is spent on advertising.