Total revenue is in dollars and x is the number of units. Suppose that in a monopoly market, the demand function for a product is given by the following equation, where x is the number of units and p is the price in dollars. p = 440 - 0.3x (a) Find the total revenue from the sale of 500 units. 24 (b) Find the marginal revenue at 500 units. (c) Is more revenue expected from the 501st unit sold or from the 701st? O The 501st unit will bring in more revenue than the 701st unit. O The 501st unit and the 701st unit will bring in the same revenue. O The 701st unit will bring in more revenue than the 501st unit.

Total revenue is in dollars and x is the number of units. Suppose that in a monopoly market, the demand function for a product is given by the following equation, where x is the number of units and p is the price in dollars. p = 440 - 0.3x (a) Find the total revenue from the sale of 500 units. 24 (b) Find the marginal revenue at 500 units. (c) Is more revenue expected from the 501st unit sold or from the 701st? O The 501st unit will bring in more revenue than the 701st unit. O The 501st unit and the 701st unit will bring in the same revenue. O The 701st unit will bring in more revenue than the 501st unit.

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

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