Using the image please find: a. Find the total revenue function, using the fact that there is no revenue when no units are sold. R= b. Find the demand function, using the relation between price, demand, and revenue. P

Using the image please find: a. Find the total revenue function, using the fact that there is no revenue when no units are sold. R= b. Find the demand function, using the relation between price, demand, and revenue. P

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter12: Monopoly

Section: Chapter Questions

Problem 3TY

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Question

Using the image please find:

a. Find the total revenue function, using the fact that there is no revenue when no units are sold. R=

b. Find the demand function, using the relation between price, demand, and revenue. P=

Problem: Given the marginal-revenue function drldą = 11 – .
find the demand function.

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