7. Suppose that you are selling a product, and the current price of one unit is 30 dollars. Suppose that when the price is 30, you know that you sell 80 of your product and you know that when you increase the price by 1 the marginal demand is approximately -2. Select the best approximation for the marginal revenue of raising the price to 31. (a) 30 (b) 31 (c) 18 (d) 78

7. Suppose that you are selling a product, and the current price of one unit is 30 dollars. Suppose that when the price is 30, you know that you sell 80 of your product and you know that when you increase the price by 1 the marginal demand is approximately -2. Select the best approximation for the marginal revenue of raising the price to 31. (a) 30 (b) 31 (c) 18 (d) 78

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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