Derive the total-average and marginal revenue schedules, Microeconomics

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Derive the total-average and marginal revenue schedules

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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Microeconomics: Derive the total-average and marginal revenue schedules

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Microeconomics: Derive the total-average and marginal revenue schedules

Reference No:- TGS073192

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Recent Questions Asked Microeconomics

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Microeconomics: Derive the total-average and marginal revenue schedules

Reference No:- TGS073192

Recent Questions Asked Microeconomics

Q : Assist him in acquiring a residence

Q : Letter to the editor:your food section frequently features

Q : My friend natalie has been very withdrawn

Q : How many units should be produced during the first quarter

Q : Derive the total-average and marginal revenue schedules

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Q : Discuss the progress and areas still in reform

Q : How much overhead cost would be assigned to product

Q : Various types of organizations functional-matrix

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