Question
To the marginal income function of a monopolist that is shown below, where q represents thousands of units and r represents millions of dollars, answer
To the marginal income function of a monopolist that is shown below, where q represents thousands of units and r represents millions of dollars, answer the questions shown below:
a) Search and write the definition of the income function, marginal income and demand. Explain, how are they related?
b) For the function of marginal income shown above, determine which is the income function and which is the demand function.
c) Using any resource from www.geogebra.org , graph the 3 functions in the same cartesian plane.
d) Using the concept of differential equation, how many units does the monopolist has to sell to get an income of $100 million?
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