Revenue Determination Project
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Given the price (P) and output (Q) data in the following table, calculate the related total revenue (TR), marginal revenue (MR), and average revenue (AR) figures, and determine output level that maximizes revenue.
Q P TR MR AR
0 $35
1 30
2 25
3 20
4 15
5 10.
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Solution Summary
The solution determines output level that maximizes revenue.
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