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Homework Help: Explaining the meaning of a derivative

  1. Oct 30, 2011 #1
    1. The problem statement, all variables and given/known data
    As the result of a survey, the marketing director of a company found that the revenue, $R, from selling n produced items at $P is given by the rule R=30P-2P^2

    Find dR/dP and explain what it means
    2. Relevant equations
    I've found the dR/dP, however, I'm unsure of what this means in terms of the criteria in the question


    3. The attempt at a solution

    dR/dP= 30-4P

    Edit:
    Don't worry! Just solved it, it's rate of change of revenue with respect to price. I'm so silly
     
    Last edited: Oct 30, 2011
  2. jcsd
  3. Oct 30, 2011 #2

    LCKurtz

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    Have you studied the concept of marginal revenue?
     
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