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Revenue Assume that a demand equation is given by q = 5000
Chapter 4, Problem 51A(choose chapter or problem)
Revenue Assume that a demand equation is given by q = 5000 ? 100p. Find the marginal revenue for the following production levels (values of q). (Hint: Solve the demand equation for pand use R(q) = qp.)a. 1000 units________________b. 2500 units________________c. 3000 units
Questions & Answers
QUESTION:
Revenue Assume that a demand equation is given by q = 5000 ? 100p. Find the marginal revenue for the following production levels (values of q). (Hint: Solve the demand equation for pand use R(q) = qp.)a. 1000 units________________b. 2500 units________________c. 3000 units
ANSWER:Solution Step 1 of 5In this problem, we have to find the marginal revenue for the following production levels.Given in the question, demand equation is given by q = 5000 100p.________________