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    Total revenue, average revenue and graph

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    Given the following total-revenue function:

    TR = 9Q - Q²

    (a) Derive the total-revenue, average-revenue, and marginal-revenue schedules
    from Q = 0 to Q = 6 by 1s

    (b) On the same set of axes, plot the total-revenue, the average-revenue, and the
    marginal-revenue schedules of part (a)

    (c) With reference to your figure in part (b), explain the relationship among the total, average, and marginal revenue curves.

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    Solution Summary

    Excel file contains :
    1. Average and marginal revenue curves formulas, schedules
    2. Curves in the form of graph
    3. Explanations for observed relationships between curves.