Assuming the inverse demand function for good Z can be written as P = 90 - 3Q, when Q is equal to 5, average revenue and marginal revenue are equal to ________and________ . A) $75; $75. B) $85; $85. C) $75; $60. D) $60; $60_.

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Quizplus · Accepted Answer

Average revenue is equal to price, which is $75 when Q=5. Marginal revenue is calculated as the derivative of total revenue (P*Q), which gives $60 when Q=5.

Assuming the Inverse Demand Function for Good Z Can Be