The Spacing Guild has a monopoly on space transport. They sell tickets (Q) for seats on starships for interstellar travel at a per-ticket price of P. All tickets cost the same. If the Marginal Cost for each seat is $16 and Market demand is Q=404- 5P, what is the MARGINAL REVENUE the Guild gets from the 25th ticket?
The Spacing Guild has a monopoly on space transport. They sell tickets (Q) for seats on starships for interstellar travel at a per-ticket price of P. All tickets cost the same. If the Marginal Cost for each seat is $16 and Market demand is Q=404- 5P, what is the MARGINAL REVENUE the Guild gets from the 25th ticket?
Chapter8: Monopoly
Section: Chapter Questions
Problem 9SQP
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Question
The Spacing Guild has a
(Q) for seats on starships for interstellar travel at a per-ticket price of P. All
tickets cost the same.
If the Marginal Cost for each seat is $16 and Market
5P, what is the MARGINAL REVENUE the Guild gets from the 25th
ticket?
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