Multiple Choice
You are the manager of a firm that sells its product in a competitive market with market (inverse) demand given by P = 50 − 0.5Q.The market equilibrium price is $50.Your firm's cost function is C = 40 + 5Q2.Your firm's marginal revenue is:
A) $50.
B) MR(Q) = 10Q.
C) MR(Q) = 50 − Q.
D) There is insufficient information to determine the firm's marginal revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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