62 572
Assignments Done
99%
Successfully Done
In June 2018

Answer to Question #53477 in Microeconomics for ASIF

Question #53477
How to find out the Price from any total Revenue Function, say for example TR=100,000Q-10Q^2, this is the given total revenue function, please elaborate how to derive out the price from the given total revenue function
Expert's answer
To find the price from any total revenue function we need to know, that in equilibrium the price P = MR and MR = TR', so P = MR = TR' = (100,000­Q-10Q^2)' = -1 - 20Q

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions