The Johnson Robot Company’s marketing managers estimate that the demand curve for the company’s robots in 2008 is P = 3,000 - 40Q where P is the price of a robot and Q is the number sold per month. Derive the marginal revenue curve for the firm and determine the marginal revenue for the 10th unit of output. a. $2200 b. $2600 c. $40 d. $80
The Johnson Robot Company’s marketing managers estimate that the demand curve for the company’s robots in 2008 is P = 3,000 - 40Q where P is the price of a robot and Q is the number sold per month. Derive the marginal revenue curve for the firm and determine the marginal revenue for the 10th unit of output. a. $2200 b. $2600 c. $40 d. $80
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 11SQ
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Question
The Johnson Robot Company’s marketing managers estimate that the demand
curve for the company’s robots in 2008 is
P = 3,000 - 40Q
where P is the
Derive the marginal revenue curve for the firm and determine the marginal revenue for the 10th unit of output.
a. |
$2200 |
|
b. |
$2600 |
|
c. |
$40 |
|
d. |
$80 |
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