Answer the Following Questions

question 52

Essay

Answer the following questions.
a. Graph the inverse demand curve P = 12 - Q. On your graph, identify the area of total revenue associated with 2 and then 3 units of output. Is marginal revenue of the third unit positive or negative?
b. Graph the inverse demand curve P = 12 - Q. On your graph, identify the area of total revenue associated with 9 and 10 units of output. Is marginal revenue of the tenth unit positive or negative?

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Definitions:

Order-Takers

Individuals or employees within a company who handle straightforward purchase requests from customers, rather than actively selling or persuading.

Creative Sales Strategies

Innovative approaches used by companies to persuade potential buyers into purchasing products or services.

Selling Situation

The circumstances and environment in which a sales transaction takes place, including factors like customer needs and market conditions.

Sales Presentations

Structured talks or demonstrations given to potential buyers with the objective of promoting a product or service.