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.
Please see the attached file for
1. Average ...
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.