Derive the total-revenue average-revenue and, Ask an Expert

Economics

Given the following total-revenue function
TR = 9Q-Q2

a) Derive the total-revenue, average-revenue and marginal-revenue schedules from Q = 0 to Q = 4 by 1s.

Average revenue (AR) = total revenue (TR) / Q
Marginal revenue (MR) = change in total revenue / change in Q
For ex Q TR AR MR
2 14 7
3 18 6 4

b) On the same set of axes, plot the total-revenue, averate-revenue and marginal-revenue curves.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M950963

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