Question: Suppose we know the following values for a demand function, p ( q ) , for a product where p is the price pe unit
Suppose we know the following values for a demand function, for a product where is the price pe unit and is the number of units demanded:
When the demand is units, the price is $ unit and the price is decreasing by $ unit for each additional unit demanded.
The cost for making units is given by:
a Calculate the revenue when units are sold: dollars
b Calculate the marginal revenue when units are sold: dollarsunit
c Calculate the profit when units are sold: dollars
d Calculate the marginal profit when units are sold: dollarsunit
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