The demand and marginal cost equations below represent those faced by a monopolist in the market for lunar exploratory vehicles. D: Qd = (minus1/2) P + 10,000 MC: MC = 2Q + 50 What equation best represents the firm's marginal revenue?

MR = –P + 10,000

Explanation:

Qd = (–1/2)P + 10,000 (1)

Total Revenue = TR = P.Qd = P[(–1/2)P + 10,000]

TR = P[(-1/2)P + 10,000)] = (–1/2)P^2 + 10,000P (2)

To obtain MR, equation 2 is differentiated with respect P as follows:

MR = TR' = –P + 10,000

Therefore, the best equation to represent the firm's marginal revenue (MR) is MR = –P + 10,000.

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