Question: How is MR calculated and TR calculated? This is from a lecture slide Regression Results (from Excel) Constant 478.547 Own price (P) -1 .633 Estimated

How is MR calculated and TR calculated?

This is from a lecture slide

How is MR calculated and TR calculated?This is from a lecture slide

Regression Results (from Excel) Constant 478.547 Own price (P) -1 .633 Estimated Demand Equation: Q = 478.55 1.63P Exercise: What is AIR at P=$200? 1. Inverse Demand Function: P = 293.6 0.61Q 2. TR : '793.6Q 0.61Q3 91W}? : 2.93.6 1.2.2Q 3. At PI$200, #:1485. Thus: MR : $112.4

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