Suppose a product's demand curve can be expressed as Q = 200 - 10P. Marginal revenue is:

Name: Suppose a product's demand curve can be expressed as Q = 200 - 10P. Marginal revenue is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue resulting from a one-unit increase in output. It is calculated as the derivative of total revenue with respect to quantity. In this case, total revenue is given by TR = P * Q = P(200 - 10P) = 200P - 10P^2. Therefore, marginal revenue is MR = dTR/dQ = 200 - 20P.

Suppose a Product's Demand Curve Can Be Expressed as Q