A Firm's Total Revenue Function Is Given by R =

question 2

Multiple Choice

A firm's total revenue function is given by R = 100 + 100Q - 2Q². At Q = 10, which of the following is true?

• A) The firm's marginal revenue is $80.
• B) The firm's marginal revenue is constant.
• C) The firm's average revenue is $50.
• D) The firm's total revenue is $500.
• E) The firm's marginal revenue is $60.

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Definitions:

Multiple Regression Model

A method in statistics that relies on various independent variables to anticipate the response of a dependent variable.

Coefficient

A numerical or constant quantity placed before and multiplying the variable in an algebraic expression.

Independent Variable

A variable in an experiment or model that is manipulated or categorized to observe its effect on the dependent variable.

Dependent Variable

In an experimental setting, the variable being tested and measured, which is expected to change as a result of modifications to the independent variable.