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demand function, total revenue function, and marginal revenue function

Given the following demand function:

Price Quantity Arc Elasticity Total Revenue Marginal Rev.
P Qd(Units) Ed ($) ($/Unit)

$12 30 n.a. _________ n.a.
11 40 _________ __________ _________
10 50 _________ __________ _________
9 60 _________ _________ _________
8 70 _________ __________ _________
7 80 _________ __________ __________
6 90 _________ __________ __________
5 100 _________ __________ __________
4 110 _________ __________ __________

a. Compute the associated arc elasticity, total revenue, and marginal revenue values.

b. On separate graphs, plot the demand function, total revenue function, and marginal revenue function.

Solution Summary

Compute the associated arc elasticity, total revenue, and marginal revenue values.

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