EduFarming
Your list · 0हिं

Type at least two letters. Press Esc to close.

↑↓ navigate↵ openTAB cycle filter

Consumer & Producer Surplus · Question 22 of 70

Question 22

MediumOriginal question

The marginal revenue is MR=60−4xMR = 60 - 4x rupees. What is the demand function, the price pp at which xx units sell?

Options for question 22

Show the answer and explanation
CorrectNot quiteAnswer D

Correct answer: D

Explanation

  1. R(x)=60x−2x2R(x) = 60x - 2x^{2}, with R(0)=0R(0) = 0.

  2. p=R(x)x=60−2xp = \frac{R(x)}{x} = 60 - 2x.

Worth noting

p=60−4xp = 60 - 4x copies the marginal revenue; the price falls only half as fast.

Concept
Demand from marginal revenue
Typical time
90 s
Your time
—
The rule this testsRevenue and demand from marginal revenue
Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapterAll 70 questions in Consumer & Producer SurplusRevise the notes for Consumer & Producer Surplus