

Maximizing Revenue with Partial Derivatives
Interactive Video
•
Mathematics, Business
•
10th - 12th Grade
•
Practice Problem
•
Hard
Ethan Morris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do the variables X and Y represent in the context of the company's MP3 player models?
The price of the MP3 players
The revenue generated from each model
The number of the first and second model made in millions
The number of MP3 players sold
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of finding the partial derivatives of the revenue function?
To determine the cost of production
To set the price of the MP3 players
To find the marginal revenue equations
To calculate the total revenue
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When finding the partial derivative of R with respect to X, what is treated as a constant?
R
X
Y
Both X and Y
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the result of setting both partial derivatives equal to zero?
The minimum revenue
The maximum cost
The production levels that maximize revenue
The total number of MP3 players produced
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method is used to solve the system of equations for maximizing revenue?
Matrix method
Substitution
Graphical method
Elimination
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the approximate production level in millions for the first model to maximize revenue?
8.3871
16.4516
20.0000
10.0000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the exact value of X that maximizes revenue?
31
510
510 divided by 31
260 divided by 31
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