Find and interpret the marginal revenue

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Reference no: EM131789627

Suppose that in a monopoly market, the demand function for a product is given by p = 160 - 0.1x 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 and interpret the marginal revenue at 500 units.

Reference no: EM131789627

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