A firm produces two goods that are substitutes in consumption, X and Y. The demands for the two goods are
Q X = 100,000 - 4,000P X + 2,000P Y
Q Y = 120,000 -2,000P Y + 1,000P X
The two marginal cost functions are
MC X = 7.667 + 0.0005Q X
MC Y = 15 + 0.0005Q Y
-The marginal revenue functions for X and Y are respectively ______ and ______.

Question

A firm produces two goods that are substitutes in consumption, X and Y. The demands for the two goods are
Q X = 100,000 - 4,000P X + 2,000P Y 
Q Y = 120,000 -2,000P Y + 1,000P X 
The two marginal cost functions are
MC X = 7.667 + 0.0005Q X 
MC Y = 15 + 0.0005Q Y 
-The marginal revenue functions for X and Y are respectively ______ and ______.

Quizplus · Accepted Answer

The Answer of A firm produces two goods that are substitutes in consumption, X and Y. The demands for the two goods are
Q X = 100,000 - 4,000P X + 2,000P Y 
Q Y = 120,000 -2,000P Y + 1,000P X 
The two marginal cost functions are
MC X = 7.667 + 0.0005Q X 
MC Y = 15 + 0.0005Q Y 
-The marginal revenue functions for X and Y are respectively ______ and ______.

A Firm Produces Two Goods That Are Substitutes in Consumption