Cost-Revenue-Profit Functions (Using Linear Equations)
Marginal revenue is the derivative of total revenue with respect to demand. Example If the total revenue function of a good is given by 100Q¡Q2 write down an expression for the marginal revenue function if the current demand is 60. TR = 100Q¡Q2;) MR = d(TR) dQ = d(100Q¡Q2) dQ ................
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