Author Question: The demand curve is given by: QD = 5000 - 10 P Find equations for: a. Total revenue b. ... (Read 59 times)

ARLKQ

  • Hero Member
  • *****
  • Posts: 571
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

  • Sr. Member
  • ****
  • Posts: 354
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

For a complete list of videos, visit our video library