Total revenue is in dollars and x is the number of units. Suppose that In a monopoly market, the demand function for a product is given by P = 450 - 0.3x where x is the number of units and p is the price in dollars. (a) Find the total revenue from the sale of 500 units. (b) Find the marginal revenue MR at 500 units. MR = $ Interpret this value. The 501st unit will bring in [ MR] dollars more in revenue. O The 501st unit will lose [MR) dollars more in revenue. O The 501st unit will lose [ MR| hundred dollars more in revenue. O The 501st unit will bring in [ MR| hundred dollars more in revenue. (c) Is more revenue expected from the 501st unit sold or from the 701st? Explain. The 701st unit will bring in $ more In revenue. Thus the -Seled- v unit will bring in more revenue. Select Need Help? Road it Which I 50151 701st