An imperfectly competitive firm has the following demand curve: Q = 100 - 2P. What is marginal revenue equal to when P = 40?
What will be an ideal response?
Q = 20, so MR = 40 - (20/2 ) = 30.
You might also like to view...
Checkable deposit account balances are
A) only a small component of the money supply. B) counted in the calculation of the money supply. C) part of M2 but not part of M1. D) considered credit, but not money.
Refer to the table above. What is the marginal revenue of the monopolist when it sells 200 units of its product?
A) $2 B) $5 C) $7 D) $9
The Federal Reserve considers any business with less than __________ employees to be "small."
A) 10 B) 100 C) 500 D) 1500
An economic system in which the government decides what, how, and for whom to produce, directs workers to jobs, and owns all the land and capital is
A) centrally planned socialism. B) market capitalism. C) mixed economy. D) supported by economists as the best system available.