Given the Demand Function Q_X = 5,000 - 250P_X +120P_Y

question 116

True/False

Given the demand function Q_X = 5,000 - 250P_X +120P_Y +.04I where P_Y = $50.00 and I = $60,000, the average revenue equation is:
AR = 53.6 - .004Q_X.

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