Demand equation of a producer is: P = 270 Q- 2,4 * Q? a) Which is the expression of the TOTAL REVENUE FUNCTION TR b) Which is the expression of the MARGINAL REVENUE MR c) For Q=25 calculate the value of TOTAL REVENUE FUNCTION

Demand equation of a producer is: P = 270 Q- 2,4 * Q? a) Which is the expression of the TOTAL REVENUE FUNCTION TR b) Which is the expression of the MARGINAL REVENUE MR c) For Q=25 calculate the value of TOTAL REVENUE FUNCTION

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter18: Pricing The Factors Of Production

Section: Chapter Questions

Problem 4TY

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Question

PROBLEM No 1INTERPRET ALL THE RESULTS!!!
Demand equation of a producer is: P = 270 * Q - 2,4 * Q²
a) Which is the expression of the TOTAL REVENUE FUNCTION TR
b) Which is the expression of the MARGINAL REVENUE MR
c) For Q=25 calculate the value of TOTAL REVENUE FUNCTION
d) Find the marginal revenue function MR for Q = 15 u. and explain the result
found.
e) Find the maximum revenue. Max TR

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