The demand for a new drug is given by equation Q = 150 - 3P (where Q is the bottles of medicine and P is the price per b

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The Demand For A New Drug Is Given By Equation Q 150 3p Where Q Is The Bottles Of Medicine And P Is The Price Per B 1 (79.64 KiB) Viewed 48 times

The demand for a new drug is given by equation Q = 150 - 3P (where Q is the bottles of medicine and P is the price per bottle in dollars). The slope of the demand curve is -1/3. What is the equation for total revenue in terms of Q? 1) TR = 500 - 302 2) TR = 150Q - 3PQ 3) TR = 50Q - Q2/3 4) TR = 50Q2 - 2/3 5) TR = 150 - 302 What is the equation for marginal revenue? 1) MR = 50 - (1/3) 2) MR = 150 - (2/3)Q 3) MR = 150 - 6Q 4) MR = 150 - 6P 5) MR = 50 - (2/3) = = - -- = = =