What is the error if the derivative is used to approximate, Econometrics

What is the error if the derivative is used to approximate

Let 10p + x = 100 be the demand equation, where p is the price per item when x items are demanded.

(a) Find the total revenue when the level of production is:

(i) 40;

(ii) 41;

(b) Find the exact revenue derived from the 41st item.

(d) What is the error if the derivative is used to approximate the marginal revenue?

Request for Solution File

Ask an Expert for Answer!!

Econometrics: What is the error if the derivative is used to approximate

Reference No:- TGS01557878

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Female with long term history of crohns disease

34 year old female with long term history of Crohn's disease is experiencing abdominal pain, leucocytosis, fever, and diarrhea.

How prevention of esophageal cancer is best accomplished

Provide ways of how Prevention of esophageal cancer is best accomplished. Select all that apply:

What if female is diagnosed with cholecystitis

A 45-year-old female is diagnosed with cholecystitis. She describes severe sharp pain that comes and goes in the right upper quadrant

What if patient is diagnosed with diabetic retinopathy

69 year old male with long time history of Diabetes Mellitus II is starting to experience significant vision decline and occasional blurred vision

Patient has been treated on and off for symptoms of gerd

Your patient has been treated on and off for symptoms of GERD. A recent esophagogastroduodenoscopy (EGD) reveals esophagitis.

Write a paragraph about nutrition

Problem: Write a paragraph about Nutrition: What is the nutrient composition of banana leaves?

Evaluating a patient who complains of abdominal pain

Problem: You are evaluating a patient who complains of abdominal pain that occurs within 2 hours after eating.

Request for Solution File

Ask an Expert for Answer!!

Econometrics: What is the error if the derivative is used to approximate

Reference No:- TGS01557878

Have a Question? (oR Write a Review)

Recent Questions Asked Econometrics

Q : Write a 200 to 500 word explanation of why you support or

Q : For warren corporation year-end plan assets were 2000000 at

Q : What is the level of production when the marginal profit is

Q : Suppose that the number of riders per day on the new york

Q : What is the error if the derivative is used to approximate

Q : Let c1x2 2x2 300x 50 be the cost of producing x items

Q : What is the error in using the derivative to approximate

Q : Explain the positions a conservative politician or

Q : Consider what special issues might arise with the