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If the inverse demand function for a monopoly's product is p = 100 2q, then the firm's marginal revenue function is a. 200 - 4q. b. 100 - 4q. c. 200 - 2q. d. 2

Sagot :

If the inverse demand function for a monopoly's product is p = 100 2q, then the firm's marginal revenue function is  200 - 2q. Price becomes a function of quantity demanded in the case of an inverse demand curve. The inverse of a demand curve, this indicates that variations in the amount required cause changes in price levels.

The formula for calculating the demand curve for a product yields the graph of an inverse demand curve. The quantity demanded is a function of price on the demand curve. This aligns the horizontal axis with pricing, with quantity demanded on the vertical axis.

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