Derive the total average and marginal revenue schedules, Ask an Expert

Economics

Given the following total-revenue function:

TR=9Q-Q(2)

A) Derive the total, average, and marginal revenue schedules from Q=0 to Q=6 by 1's

B) On the same set of axes, plot the total , average, and marginal-revenue schedules of part (a)

C) Then draw on the same set of axes the marginal-revenue curve derived in part 1 and the marginal-cost curve derived in problem 7, and use them to describe why the best level of output of the firm is 3 units.

D) describe why your answer to part (a) is an ex of marginal analysis and optimizing behavior in general.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M973192

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