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

question 31

Multiple Choice

Given the demand function Q_X = 5,000 - 250P_X +120P_Y +.04I where
P_Y = $50.00 and I = $60,000, at what quantity of good X will marginal revenue equal zero?

• A) 2144
• B) 3420
• C) 5500
• D) 6700
• E) 7244

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Definitions:

Systems

Complex networks of interrelated components that work together to fulfill a purpose or achieve a goal.

Intended Actions

Actions that are performed with a specific goal or purpose in mind, as opposed to those done unintentionally or reflexively.

Unintended Actions

Actions whose outcomes are not foreseen or intended by the actor, often leading to unexpected consequences.

Micro-Macro Integration

A perspective in sociology that seeks to link the study of individual-level interactions and processes (micro) with larger-scale social structures and phenomena (macro).