Call the additional revenue per unit marginal revenue

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The price-quantity relationship has been estimated for the new prostate cancer blood test: Q = 4,000 – 20 × P. Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging from $200 to $0, using $50 increments. For each $50 drop in price calculate the change in revenue, the change in volume, and the additional revenue per unit. Call the additional revenue per unit marginal revenue.

Reference no: EM13898342

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