If the price in dollars of a stereo system is given by q 64

If the price in dollars of a stereo system is given by (q) = 6400/q^2 + 1000, where q represents the demand for the product, find the marginal revenue when the demand is 20. What is the formula for the revenue function? R(q) = pq R(1) = p\'q R(q) = p/q R(q) = p\'p The marginal revenue for the given demand is $

Solution

p(q) = 6400/q^2 + 1000 -----> price

q ---> demand

So, Revenue, R(q) =p*q ; Option A

R(q) = q(6400/q^2 +1000) = 6400/q + 1000q