The weekly revenue from the sale of a product is increasing at a rate of $10 per $1 increase in price, and the price is decreasing at a rate of $0.5 per additional product sold. What is the marginal weekly revenue with respect to the number of products sold? Interpret your answer and be sure to state the units. You can either use the space below to type your answer or upload a photo of your answer. Show your work!
The weekly revenue from the sale of a product is increasing at a rate of $10 per $1 increase in price, and the price is decreasing at a rate of $0.5 per additional product sold. What is the marginal weekly revenue with respect to the number of products sold? Interpret your answer and be sure to state the units. You can either use the space below to type your answer or upload a photo of your answer. Show your work!
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter23: Price-searcher Markets With Low Entry Barriers
Section: Chapter Questions
Problem 3CQ
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The weekly revenue from the sale of a product is increasing at a rate of \$10$10 per \$1$1 increase in price, and the price is decreasing at a rate of \$0.5$0.5 per additional product sold. What is the marginal weekly revenue with respect to the number of products sold? Interpret your answer and be sure to state the units.
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