Total-revenue function, Given the following total-revenue function: Derive the total,, Macroeconomics

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Total-revenue function

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 explain why the best level of output of the firm is 3 units.

d) Explain why your answer to part (a) is an example of marginal analysis and optimizing behavior in general.

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Macroeconomics: Total-revenue function

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Macroeconomics: Total-revenue function

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Recent Questions Asked Macroeconomics

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Macroeconomics: Total-revenue function

Reference No:- TGS069364

Recent Questions Asked Macroeconomics

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