The demand function for a good is p = 42 – 0.01q. Round your numeric answers to one decimal place. a) Write the revenue as a function of production, q. R(q) = b) What production level maximizes revenue? c) What price corresponds to this production level? price = $ d) What is the total revenue at this production level? revenue = $

The demand function for a good is p = 42 – 0.01q. Round your numeric answers to one decimal place. a) Write the revenue as a function of production, q. R(q) = b) What production level maximizes revenue? c) What price corresponds to this production level? price = $ d) What is the total revenue at this production level? revenue = $

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 1QP

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