Question

firms s is the only producer of a particular type of foam fire retardant and insulation used in the construction of commercial buildings. the inverse demand equation for the product is p=1500-0.1q,where q is the annual sales quantity in tons and p is the price per ton

Answer 1

$$TR=pq$$

$$TR=(1500-0.1q)q$$

$$TR=1500q-0.1q^2$$

$$MR=1500-0.2q$$