P Q $156.00 9344 $151.32 10040 $146.64 10544 $141.96 11047 $137.28 11483 $127.92 11691 $123.24 11753 A. Use your first demand function to determine an equation for TR and MR as a function of Q, and create a graph of P and MR on the vertical and Q on the horizontal axis. B. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? (Round your price to the nearest cent, your quantity to the nearest whole unit, and your TR to the nearest dollar.) Compare that to the TR when P= $127.92 and P= $149.00
P Q $156.00 9344 $151.32 10040 $146.64 10544 $141.96 11047 $137.28 11483 $127.92 11691 $123.24 11753 A. Use your first demand function to determine an equation for TR and MR as a function of Q, and create a graph of P and MR on the vertical and Q on the horizontal axis. B. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? (Round your price to the nearest cent, your quantity to the nearest whole unit, and your TR to the nearest dollar.) Compare that to the TR when P= $127.92 and P= $149.00
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
Problem 1.2CE
Related questions
Question
P | Q |
$156.00 | 9344 |
$151.32 | 10040 |
$146.64 | 10544 |
$141.96 | 11047 |
$137.28 | 11483 |
$127.92 | 11691 |
$123.24 | 11753 |
A. Use your first
B. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? (Round your price to the nearest cent, your quantity to the nearest whole unit, and your TR to the nearest dollar.) Compare that to the TR when P= $127.92 and P= $149.00
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