(d) Suppose the demand function is p = 20 = x. At what price or output is the revenue maximum? What is the magnitude of the maximum revenue? Graph the revenue function and the marginal revenue function. Suppose that MC = 0; what is the profit-maximizing price and output? IMPORTANT NOTE: PLEASE DRAW THE REVENUE FUNCTION AND THE MARGINAL REVENUE FUNCTION IN A CHART. *** not an illustrating explaing how the chart will look like. I want the actual chart drawn. please.

(d) Suppose the demand function is p = 20 = x. At what price or output is the revenue maximum? What is the magnitude of the maximum revenue? Graph the revenue function and the marginal revenue function. Suppose that MC = 0; what is the profit-maximizing price and output? IMPORTANT NOTE: PLEASE DRAW THE REVENUE FUNCTION AND THE MARGINAL REVENUE FUNCTION IN A CHART. *** not an illustrating explaing how the chart will look like. I want the actual chart drawn. please.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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