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
1
Expert's answer
2015-07-27T00:00:43-0400
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

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