QS.1 - Integrate the following: 3x² ( 12x³ + 20 10.5 within the range 6 and 8. QS.2 - The marginal revenue of a firm is given by the following equation: MR(Q) = 20 + 14Q +13Q² Where, Q represents the quantity produced. Also given, the total revenue of the firm, when they produce 5 units of output, is 50, i.e., TR(5) = 50. - Calculate the firm's total revenue function. What is the value of the constant term in the total revenue function? (Answer in two decimal places. Be careful about the sign) - Calculate the total revenue of the firm when the firm produces 7 units of output.

QS.1 - Integrate the following: 3x² ( 12x³ + 20 10.5 within the range 6 and 8. QS.2 - The marginal revenue of a firm is given by the following equation: MR(Q) = 20 + 14Q +13Q² Where, Q represents the quantity produced. Also given, the total revenue of the firm, when they produce 5 units of output, is 50, i.e., TR(5) = 50. - Calculate the firm's total revenue function. What is the value of the constant term in the total revenue function? (Answer in two decimal places. Be careful about the sign) - Calculate the total revenue of the firm when the firm produces 7 units of output.

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 3E

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