A monopolist's Demand Function is $x= 70-\frac{p}{2}$, the revenue at $x= 5 $ will be :
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 650
The demand function,
$x=70-\frac{P}{2}$ [P = corresponding price]
at x = 5,
$5=70-\frac{P}{2}$
$P=130$
and,
Revenue = $P × x$
$=130×5=650$