(Answered) The inverse demand or price function for a good isp 100

Management Studies

The inverse Demand or price function for a good is:

P = 100 -Q

a. What is the Total Revenue (TR) Function?

b. What is the Marginal Revenue (MR) function?

c. At what Price and Quantity is TR maximized and what is the value of TR at this P and Q?

d. What is the point price elasticity of demand when MR =0?

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