A manufacturer knows that:  His TR is given by Revenue = 23Q – Q2  /4         His total cost of production is; Cost = 36 + 2Q + 0.1Q2 Where Q is the weekly production in thousands a) Economists define MR as the rate of change of Total revenue. Derive an expression for Marginal Revenue (MR)    b)  How do you think Economists’ would define ‘Marginal Cost’? Derive an expression for marginal Cost (MC)  and at what output will make marginal Revenue equal Marginal cost?  c) Find the total profit and the value of Q that maximizes profit

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