The demand function for watches is: Q(p)=160-4p. Calculate the marginal revenue at output level (q) equal...
The demand function for watches is: Q(p)=160-4p. Calculate the marginal revenue at output level (q) equal to 20.
Homework Answers
| Q = 160-4P | |
| For Q = 20 | |
| 20 = 160 - 4P | |
| P = 140 / 4 = 35 | |
| Total revenue | 160P - 4P^2 |
| Marginal revenue | 160 - 8P |
| Marginal revenue for Q=20, P=35 | |
| 160 - 8x35 = | -120 |
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The demand function for watches is: Q(p)=160-4p. Calculate the
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