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Rate of Change, Marginal Cost & Revenue · Question 52 of 79

At what price does the firm get the most revenue?

Question 52

EasyOriginal question

A firm finds that to sell xx units a week it must set the price at p=120−2xp = 120 - 2x rupees a unit.

At what price does the firm get the most revenue?

Options for question 52

Show the answer and explanation
CorrectNot quiteAnswer B

Correct answer: B

Explanation

  1. Revenue is greatest at 30 units.

  2. p=120−2(30)=60p = 120 - 2(30) = 60 rupees.

Worth noting

30 is the number of units, not the price.

Concept
The price at the revenue maximum
Typical time
90 s
Your time
—
The rule this testsMarginal revenue
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Ten questions from Rate of Change, Marginal Cost & Revenue, at your own pace.

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Ten questions from Rate of Change, Marginal Cost & Revenue, at your own pace.

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