Plot on the grid provided. They are scaled to properly plot the functions.

l) Below is a linear demand function. Plot it on the top set of axes.

Your demand function is: Qx = 40000 - 200Px

2) The price function is the inverse of the demand function.

Px = __________________

3) Use the price function (2) 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).

TR = __________________

4) Derive (or simply write) the marginal revenue (MR) function below. Plot MR along with the demand function (properly located, on the top set of axes).

MR = __________________

5) Use the TR function (3) to calculate revenue for each of the seven Qx tabled below. Then use the seven revenues to plot the revenue function properly located on the lower set of axes.

QuantityRevenue

0

10k*

15k

20k

25k

30k

40k