a) A firm faces the total revenue schedule TR = 600q - 0.592 What is the marginal revenue when q is 100? b) When is the total revenue at its maximum? c) What price should the firm charge to achieve this maximum TR?
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A firm faces the total revenue schedule TR = 600q - 0.5q2
(a) What is the marginal revenue when q is 100?
Given : Total revenue function,
TR = 600q - 0.5q^2
To find : Marginal revenue at q=100
Solution :
Marginal revenue = MR
MR= dTR/dq(change in total
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