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Dear Ken. Pls help me on this step 2
Where MR how can bcome 0.02x. Tks KenSubstitute a into P = a–bx.
Demand equation P = $1,450 – 0.01x
This also means that we can derive marginal revenue.
MR = $1,450 – 0.02xReally, unless you want to get into differential calculus, you just have to learn that if the demand curve is:
P = a – bQ
the marginal revenue curve is:
P = a – 2bQ
This is a standard result that would have been met in F5.
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