Total revenue is in dollars and x is the number of units.Suppose that in a...

50.1K

Verified Solution

Question

Basic Math

image

Total revenue is in dollars and x is the number of units.Suppose that in a monopoly market, the demand function for a product is given by the following equation, where x is the number of units and p is the price in dollars.p = 400 - 0.2x(a) Find the total revenue from the sale of 500 units.(b) Find the marginal revenue at 500 units.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students