Estimating Demand and Total Revenue 1.(a) Use the following function: QW= 400-2p, to estimate the maximum total

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Estimating Demand and Total Revenue

1.(a) Use the following function: QW= 400-2p, to estimate the maximum total revenue.

(b) Plot the average, marginal, and total revenue curves

(d) Suppose marginal cost is $5, what will be the profit-maximizing price? Remember to use the MC=MR rule and then solve for price

Related Book For answer-question

Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Posted Date: May 30, 2018 08:40 AM

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Estimating Demand and Total Revenue 1.(a) Use the following function: QW= 400-2p, to estimate the maximum total

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1a Q 400 2p The inverse deposal functions x P 200 05Q TR P x Q 200Q ... View the full answer

Modern Principles of Economics

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