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glass.shards
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Homework Statement
Mondo Inc. estimates that it can sell 3400 of its premium espresso machine, the Caffeinator, at a price of $900 each, but it will lose 100 sales for each $50 increase in price of the machine. Let p be the price and q be the number of machines sold.
(a) Write q as a linear function of p.
(b) Write the revenue R as a function of p, and find the marginal revenue, MR, with respect to p.
Homework Equations
This is straight out of an exam so I'm guessing it's not a typo. Isn't revenue usually a function of the quantity produced, not the price? I can solve for an equation for part a), but part b) eludes me.
The Attempt at a Solution
I got q = -2p + 5200 for a), but have no idea how to do b).
Am I reading the question wrong? Any help would be very much appreciated, thanks so much in advance! =)