Question: Use the demand function P=3004Q to find expressions for Total Revenue and Marginal Revenue in terms of Q. Use the marginal revenue to estimate the

Use the demand function P=3004Q to find expressions for Total Revenue

Use the demand function P=3004Q to find expressions for Total Revenue and Marginal Revenue in terms of Q. Use the marginal revenue to estimate the change in total revenue brought about by a 0.7 unit increase in output from a current level of 14 units. (Only give the answer to the estimate of the change in Total Revenue below.)

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