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Course: Microeconomics - Perfect Competition The demand function for a manufacturer's product is: p = D(q) = 600 - 2q, where p is the price
Course: Microeconomics - Perfect Competition The demand function for a manufacturer's product is: p = D(q) = 600 - 2q, where p is the price (in dollars) per unit when there is a weekly demand for "q" units. (a) Express the total revenue function as a function of demand. b) Determine the weekly production level that maximizes the manufacturer's total revenue. c) Determine the MAXIMUM weekly revenue of the manufacturer.
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