4 questions. Price (in dollars) Total revenue (in dollars) 50 0 10,500 4,500 P TR T 40 0100 700 9-20 Quantity 1- The price for which 700 units can be sold is $ 2- The price at which Total Revenue is maximized is $ 3-The Marginal Revenue of the 700th unit is $ 4-The maximum possible Total Revenue is Demand 1,000 Total Revenue and demand is at this point.

4 questions. Price (in dollars) Total revenue (in dollars) 50 0 10,500 4,500 P TR T 40 0100 700 9-20 Quantity 1- The price for which 700 units can be sold is $ 2- The price at which Total Revenue is maximized is $ 3-The Marginal Revenue of the 700th unit is $ 4-The maximum possible Total Revenue is Demand 1,000 Total Revenue and demand is at this point.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 4E

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