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Author Question: The demand curve is given by: QD = 5000 - 10 P Find equations for: a. Total revenue b. ... (Read 43 times)

ARLKQ

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on: Jul 1, 2018
The demand curve is given by:
 
  QD = 5000 - 10 P
 
  Find equations for:
  a. Total revenue
  b. Marginal revenue

Question 2

Alex is hired as a sales agent and receives 10 commission on the sales price. The contract he signed is a
 
  A) fixed-fee contract.
  B) hire contract.
  C) contingent contract.
  D) sharing contract.


bpool94

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a. TR = P  Q = (500 - 1/10 Q)Q = 500Q - 1/10 Q2
b. MR = 500 - 1/5Q

Answer to Question 2

D


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