Question

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?​

Answer 1

Answer:

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