The demand for a new drug is given by equation Q = 150 – 3P (where Q is the bottles of medicine and P is the price per bottle in dollars). The slope of the demand curve is -1/3.What is the equation for total revenue iin terms of Q?1) TR = 50Q – 3Q22) TR = 150Q – 3PQ3) TR = 50Q – Q2/34) TR = 50Q2 – Q/35) TR = 150 – 3Q2What is the equation for marginal revenue?1) MR = 50 – (1/3)Q2) MR = 150 – (2/3)Q3) MR = 150 – 6Q4) MR = 150 – 6P5) MR = 50 – (2/3)Q
https://assignment-writer.com/wp-content/uploads/2022/03/awlogo-300x60.png 0 0 Assignment solutions https://assignment-writer.com/wp-content/uploads/2022/03/awlogo-300x60.png Assignment solutions2018-10-01 14:52:492020-03-18 08:01:35The demand for a new drug is given by equation Q = 150 – 3P (where Q is the bottles of medicine and P is the price per bottle in dollars).
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