The demand curve is given by: QD = 5000 – 10 P Find equations for: a
The demand curve is given by:
QD = 5000 – 10 P
Find equations for:
a. Total revenue
b. Marginal revenue
ANSWER
a. TR = P ∗ Q = (500 – 1/10 Q)Q = 500Q – 1/10 Q2
b. MR = 500 – 1/5Q
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