(Marginal Analysis). A retailer has determined that the monthly sales of a watch are 150 units when the price is $50, but decrease to 120 units when the price is $60. Assume that the demand is a linear function of the price.(4a) Find the demand as a linear function of the price(4b) Find the revenue R as a function of x(4c) Approximate the change in revenue for a one-unit increase in sales when x = 141 Exercise 4 (Marginal Analysis). A retailer has determined that themonthly sales of a watch are 150 units when the price is $50, but decreaseto 120 units when the price is $60. Assume that the demand is a linearfunction of the price(4a) Find the demand as a linear function of the price(4b) Find the revenue R as a function of x(4c) Approzimate the change in revenue for a one-unit increase in saleswhen I = 141

The quantity demanded of the good refers to the amount of commodity the consumer of the good is…

(Marginal Analysis). A retailer has determined that the monthly sales of a watch are 150 units when the price is $50, but decrease to 120 units when the price is $60. Assume that the demand is a linear function of the price. (4a) Find the demand as a linear function of the price (4b) Find the revenue R as a function of x (4c) Approximate the change in revenue for a one-unit increase in sales when x = 141

(Marginal Analysis). A retailer has determined that the monthly sales of a watch are 150 units when the price is $50, but decrease to 120 units when the price is $60. Assume that the demand is a linear function of the price. (4a) Find the demand as a linear function of the price (4b) Find the revenue R as a function of x (4c) Approximate the change in revenue for a one-unit increase in sales when x = 141

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.13P

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