Marginal Revenue, Average Cost, Profit, Price & Demand Function - Calculus

This calculus video tutorial explains the concept behind marginal revenue, marginal cost, marginal profit, the average cost function, price and demand functions. It shows you how to find the production level to minimize the average cost so as to maximize the profit of a company.
Derivatives - Fast Review:
• Calculus 1 - Derivatives
Introduction to Related Rates:
• Introduction to Relate...
Local Maximum & Minimum:
• Finding Local Maximum ...
Mean Value Theorem:
• Mean Value Theorem
Concavity & Inflection Points:
• Concavity, Inflection ...
________________________________
L'Hopital's Rule:
• L'hopital's rule
Curve Sketching With Derivatives:
• Curve Sketching - Grap...
Newton's Method:
• Newton's Method
Optimization Problems:
• Optimization Problems ...
Marginal Cost & Total Average Cost:
• Marginal Cost and Aver...
__________________________________
Marginal Revenue and Profit:
• Marginal Cost, Margina...
Tangent Line Approximations:
• Finding The Linearizat...
Differentials & Local Linearization:
• Differentials and Deri...
Estimating Function Values:
• Estimating Function Va...
Antiderivatives:
• Antiderivatives
__________________________________
Final Exams and Video Playlists:
www.video-tutor.net/
Full-Length Videos and Worksheets:
/ collections

[@TheOrganicChemistryTutor]

Final Exams and Video Playlists: www.video-tutor.net/

[@EthelChivonivoni.1]

for the second example when calculating the production level that will minimize average cost you made an error you used 300 000 instead of 30 000 may you clarify 25:47

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[@crissy5431]

Thanks so much for all of your help! I would love to see time stamps of the topics in the description to make it easier to go back to the examples on such a long video.

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[@PyreeMincer]

15 minutes of this taught me more than 4 hours of class. thanks.

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[@thanhyenthynguyen5287]

Thank you so much for your videos. I got an F on my first calculus midterm exam. But thank to your video i've figured out the way to solve related rate and cost problems.

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[@shekinahjedgecombe3878]

Can you do a video based on 'Supply and Demand' - also explaining the process through application problems (word problems, etc) finding the supply function, demand function, equilibrium quantity and price. please. :)

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[@AtkinKausimae]

One of the best tutorials video. Thanks so much sir.

[@rogerroberts5529]

Great video to start with but you got me confused/lost at 12:33 where you divided the 0.01x over itself and over the 0.02x. If I'm not mistaken 0.02 dived by -0.01x you should get -2 and also also that the x would have cancelled each other.. but since my teacher haven't started teaching the topic I'll just wait until Tuesday to fully understand better. I'm sorry but I just cant move on futrher into the video until I can understand this matter

[@eniolaolatunji-aresa4864]

Thank you for the video sir. What if we were given Cost and Price then told to find the quantity

[@mateosingz1596]

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[@livie398]

Thank you so much. This video helps me a lot👍🏻

[@vinisilva3879]

The problem regarding this kind of function is what the 0,01x^2 comes from? All equation, functions and etc, in the books mainly, have already given done, as such as magic, instead teaching is how to obtain the ^2, ^3 , etc...

[@geetanjalisahoo9855]

please please answer today Arabian maximizing monopolistic was a profit of at least 1500 rupees each function is equal to 500 + 4 + 8 square and his demand function is equal to 304 - 2 cube determine is output level q and price Pinterest these values with those that would be achieved on the profit maximization

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[@francismuiruri3393]

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[@aaksdad]

Thanks for the video. got a quick question @3:08... why would you chose c(x) = 5000 + 15x + 0.01x^2 . What is the reasoning behind that formula?

[@mikoliism]

Not sure if this helps but The 5000 is just a fixed cost and the 15x+0.01x^2 are variable costs

[@janeyue7491]

I was thinking 15x means something that would costs 15 times as much as years comes by, but I wouldn’t know what. I was thinking when it comes to something with an x^2 on it, it got to be interest rates, because of F = P (1+ I) ^n

[@CHILDTOONSOFFICIAL]

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[@nobuhledubazana1693]

Is it possible for A marginal cost/revenue/profit function to reach a relative extrema?

[@karandhami1542]

19:20 how could you take cost function?? Is that given ??

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[@razasyed575]

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[@mansurissahaq628]

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[@johnaxhelimperial274]

Does average cost and actual cost same? If not then what is actual cost?

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[@23theshadowgirl]

We have average cost as AC in my microeconomic book if that helps anyone.

[@sicilianotoronto]

at 14:23, how did you know to put the +15 + 0.01 and why is that term not squared? Thanks!

[@kateenyamaarhinful1364]

please for the second example of the average cost ,instead of dividing the total cost by x=548 to get the average cost, you put it in the marginal function which makes your answer wrong .....please clarify for me ......thank you

[@fahadali5046]

Outstanding video

[@mugerashalifu9539]

Given average cost function and demand function find the maximum level of total revenue help me please

[@rashidkhan8161]

How to convert any linear cost function into quadratic cost function, normally cost function are linear

[@amritbhattacharjee5767]

Sir In the first question why did you take 5000 + 15x + 0.01x² as C(x)? Of anyone understands then please Answer.

[@beingentrepreneur4735]

Thank you brother

[@benrawarg]

To find the minimum, couldn't you just derive the function and find it's roots?

[@LorettaAhenkan-bi9hb]

How did you get the expression for the c(x) I'm lost

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[@fallout6067]

12:25 can someone explain to me why did he subtract them by 0.01x

[@enderzebak2863]

to find the x.ur moving the value to opposite side so opp becomes negative

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[@mertmert324]

Thanks sir

[@Lineapetrela]

i still dont understand what exatly c prime x means...

[@gabbywambui63]

First derivative of C(x)

[@user-rq3hh4iz2d]

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[@geetanjalisahoo9855]

revenue maximizing monopolist requires a profit of at least Rs 1500 is cost function is equal to 500 + 14 + HQ square and his demand function function is P equal to 30 4 - 2 cube determine his determine his outputlabel q and price Pinterest these values with those that would be achieved under profit maximization please answer today

[@sirbudu]

AWESOME

[@nayaart6373]

bro i didn't understand !!! in the first example where from u get the 5ooo and what is it !? and the 15 also what is it?! and 0.01!? can you please explain what are those numbers ! and where from u get them ?! i have a question which price revenue is maximized and for which price profit is maximized? 2014 quantity 10300 unit price 15 2015 q 8100 p 17 2016 q 7400 p 18 thank you

[@rahinaaliyakubu6908]

That’s the cost function of the question.He just didn’t write in the question

[@user-ve3vz6ij7j]

You are hero

[@techundercover3899]

Isn’t the marginal cost when x=100, the cost of the 100th unit not the 101st unit

[@emilykamanja609]

Thank you!

[@hannahfraser5600]

Can someone work this question for me, please If a company invests x thousand dollars in advertising, the demand for its product will be D(x)=2000 x^2+900 x+60 items. Find the rate of change in demand with respect to advertising dollars when $1500 is spent on advertising.

[@amiramz7869]

i think u derive the demand function with respect to x first and then substitute 1500 as the value x

[@oweny6609]

You never covered how to find the price per unit using price demand function. This confused me more.

[@kentheengineer592]

If I Give PPL Funds To Afford My Product Then I Dont Make a Profit But If I Dont Give PPL Funds To Afford My Product Then How Can I Make The Sale When No One Has The Funds

[@Seastric]

THANKS ALOT

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[@H.sena1111]

perfect

[@HappyKat13luv]

Sorry, but you jumping around kind of really confused me a lot. The video helped with learning what all the terms meant, though. Thanks.

[@TheOrganicChemistryTutor]

You're right. I tend to jump around a lot. Sorry about that.

[@NatnaelAbiyu-v9e]

👍

[@mineyaman9908]

can you do this please??? Answer the Question A firms total revenue function is given as follows, TR = 100Q - 2Q^2 a. What is the demand function for the firm? b. Find the marginal revenue for the firm. c. Does this firm operate in a perfectly competitive industry? Justify this answer. d. At what points is total revenue maximised? e. If the government sets a tax equal to tQ, where t = 2, find the new revenue maximizing point?

[@harbinveli3487]

A. The demand function is equal to marginal revenue B. Marginal Revenue is a derivative of TR, in this case 100-4Q C. The maximization point is where Marginal Revenue is Equal to Marginal Cost

[@Fenrallookism]

About to fail a test in 15 minutes 😢

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[@NatnaelAbiyu-v9e]

Thanks