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    Harvard university
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Category > Economics Posted 12 Jul 2017 My Price 8.00

Plot the demand function on the top set of axes.

l) Plot the demand function on the top set of axes.

    Qx = 10000 - 500Px        

 

2) The price function is the inverse of the demand function. Write this inverse below. 

 

         

 

 

 

 

3) Use the price function to obtain the total revenue function (TR). Write the TR function below. You will plot TR on the lower set of axes in step 5.

 

 

 

4) Derive (or simply write) the marginal revenue (MR) function below. Plot MR on the top set of axes (in the proper location with respect to the demand function).

 

 

5) Use the TR function (3) to

calculate revenue for each of the seven

Qx values below. Use the seven revenues

to plot the revenue function properly.

 

 

k means thousand

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SuperTutor
(15)
Status NEW Posted 12 Jul 2017 12:07 AM My Price 8.00

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file 1499820457-Solutions file.docx preview (51 words )
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