Derive total-revenue-average-revenue and marginal-revenue, Microeconomics

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Derive total-revenue-average-revenue and marginal-revenue

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 example 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: Derive total-revenue-average-revenue and marginal-revenue

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Microeconomics: Derive total-revenue-average-revenue and marginal-revenue

Reference No:- TGS050963

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Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Derive total-revenue-average-revenue and marginal-revenue

Reference No:- TGS050963

Recent Questions Asked Microeconomics

Q : Difference between two wacc

Q : Assigned the opposite gender at birth

Q : Preferred audit techique for accounts

Q : Modigliani and miller proposition-signaling theory

Q : Derive total-revenue-average-revenue and marginal-revenue

Q : Prepare the income statement to be included in branson''s

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