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 p = 370 - 0.2x where x is the number of units and p is the price in dollars. (a) Find the total revenue from the sale of 500 units. $ (b) Find the marginal revenue MR at 500 units. MR = $ Interpret this value. O The 501st unit will lose |MR| dollars more in revenue. O The 501st unit will bring in |MR| hundred dollars more in revenue. O The 501st unit will bring in |MR| dollars more in revenue. O The 501st unit will lose |MR| hundred dollars more in revenue. (c) Is more revenue expected from the 501st unit sold or from the 701st? Explain. The 701st unit will bring in $ more revenue. more in revenue. Thus the ---Select--- unit will bring in

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