Solution-Change in revenue when advertisement expenditure

Change in revenue when advertisement expenditure changes

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Reference no: EM131587683

Question: Application exercise. Suppose that the total revenue R that a seller receives from the sale of two goods, x and y, along with the advertisement expenditure, ν, is given by the function R = f (x,y,v) = x0.4y0.4v0.2. Also suppose that x = g(v) = 0.5v and y = h(v) = v. Find the change in the total revenue when advertisement expenditure changes by an infinitesimally small amount.

Reference no: EM131587683

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Change in revenue when advertisement expenditure changes

Reference no: EM131587683

Reference no: EM131587683

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