Question: 1. Demand function is p = 500 - q. What is marginal revenue at q = 250? (Hint: First multiply p by q to obtain

1. Demand function is p = 500 - q. What is marginal revenue at q = 250? (Hint: First multiply p by q to obtain total revenue.)

2. Total revenue function is R(q)=200q-q^2. At what q is marginal revenue equal to zero?

3. If the production of an additional unit raises total revenue, the marginal revenue of that unit must be negative. True or False.

4. Utility function is U(c)=250c^0.5. What is marginal utility at c = 25?

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