(All Steps) A monopolist who employs m workers finds that they produce q=2m(2m+1)^3/2 units of product per day. The total revenue r (in dollars) is given
Question: A monopolist who employs m workers finds that they produce
\[q=2m{{\left( 2m+1 \right)}^{3/2}}\]units of product per day. The total revenue r (in dollars) is given by
\[r=\frac{50q}{\sqrt{1000+3q}}\]- What is the price per unit (to the nearest cent) when there are 12 workers? [3]
(b) Determine the marginal revenue when there are 12 workers. [3]
(c) Determine the marginal-revenue product when m = 12.
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Deliverable: Word Document 
