The Unit Selling Price P (In Dollars) and the Quantity

question 95

Multiple Choice

The unit selling price p (in dollars) and the quantity demanded (in pairs) of a certain brand of women's gloves is given by the demand equation . ​
What is the marginal revenue to the nearest cent per day when x = 100?
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• A) The marginal revenue when x = 100 is $135.55 per day.
• B) The marginal revenue when x = 100 is $141.41 per day.
• C) The marginal revenue when x = 100 is $149.82 per day.
• D) The marginal revenue when x = 100 is $0.90 per day.

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Definitions:

Circular Flow

An economic model that illustrates the continuous movement of goods, services, and money between producers and consumers in an economy.

Circular Flow Model

A diagram that illustrates the movement of goods, services, and money between households and businesses in the economy.

Resource Market

The resource market is where raw materials, labor, and capital resources are traded, enabling firms to produce goods and services and reflecting the interaction between supply and demand for resources.

Gross Domestic Product

A measure of the market value of all final goods and services produced in a country during a specific period, illustrating the size of its economy.