123.9.000. Total revenue is in dollars and x is the number of units. Suppose that in a monopoly market, the demand funct

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123 9 000 Total Revenue Is In Dollars And X Is The Number Of Units Suppose That In A Monopoly Market The Demand Funct 1 (22.79 KiB) Viewed 55 times

123.9.000. 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 P 290-0,2x where x is the number of units and p is the price in dollars. (a) Find the total revenue from the sale of 500 units. (b) Find the marginal revenue MR at 500 units. MRS Interpret this value. O The 501st unit will bring in IMRI hundred dollars more in revenue. O The 501st unit will lose IMRI dollars more in revenue. The 501st unit will bring in (MRI dollars more in revenue. O The 501st unit will lose IMRI hundred dollars more in revenue. (c) Is more revenue expected from the 501st unit sold or from the 701st? Explain. The 701st unit will bring in s Need Help? Read it www MY NOTES more in revenue. Thus the-Seioc unit will bring in more revenue. ASK YOUR TEACHER PRACT