Question: The demand function is given by p = 16 0.04q, where q is the output level and p is the price () per unit of

The demand function is given by p = 16 0.04q, where

The demand function is given by p = 16 0.04q, where q is the output level and p is the price () per unit of product. i. Write down an expression for the revenue function (R) in terms of q. ii. Show that the marginal revenue is given by MR = 16 -0.08q. iii. Find the quantity that maximises the revenue function

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