Question

A monopolist's demand function is p = 300 - 5x, answer the questions associated with this information.

Answer 1

Marginal revenue function = 300 - 10x if  demand function is p = 300 - 5x

Step-by-step explanation:

A monopolist's demand function is p = 300 - 5x

Total Revenue = px  = (300 - 5x)x

=> Total Revenue = = 300x - 5x²

Marginal revenue = d(Total Revenue)/dx  =  300 - 10x

Marginal revenue function = 300 - 10x

300 - 10x = 0

=> 10x = 300

=> x = 30

at  Price 30 Marginal Revenue is Zero

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