demand equation
Assume that a demand equation is given by q=7000−100p.
Find the marginal revenue for the given production levels (values of q). (Hint: Solve the demand equation for p and use R(q)=qp.)
a. The marginal revenue at 2000 units is _____. (Simplify youranswer.)
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b. The marginal revenue at 3500 units is _____. (Simplify youranswer.)
c. The marginal revenue at 6500 units is ______. (Simplify youranswer.)
