z points Save Arn The revenue table describes the total reve

z points Save Arn The revenue table describes the total revenue earmed by a single-price monopolist MR 14 -2 10 Assume the margi nal revenue curve and market demand curve are both linear. What equation represents the market demand for this industry? Q-7.5-(1/4)P Q-3.75-(1/8)P P-30-8Q P 30-16Q

Solution

Answer is P =30-8Q

Explanation:

The Marginal revenue (P) decrease by $ 8 for each unit of increase in output. That means for First unit, intercept is $ 30 (i.e. 22+8)

Hence, Equation line is:

P = 30- 8Q