When p 200 what is total revenue what is marginal revenue


Greg's Hardware has determined the following demand and supply equations for nails

QD = 10,000-25P

QS = -5,000 + 50P

a. How many nails would be sold for $100?

b. At what price would nail sales be zero?

c. When P = $200, what is total revenue? What is marginal revenue?

d. What is the relationship between quantity supplied and quantity demanded at a price of$300?

Solution Preview :

Prepared by a verified Expert
Macroeconomics: When p 200 what is total revenue what is marginal revenue
Reference No:- TGS01661598

Now Priced at $20 (50% Discount)

Recommended (96%)

Rated (4.8/5)