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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?

Sagot :

If the inverse demand function for a monopoly's product is p = 100-2Q, then the firm's marginal revenue function is OA -2 OB. Price is a function of quantity required in the inverse demand function. In contrast, the quantity demanded is a function of price in the demand function. 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. Price and quantity demanded are related in the inverse demand curve. Third, just like the inverse supply function, the inverse demand function is helpful for calculating the slope of demand curves.

To learn more about demand, click here.

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