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What is the total revenue function

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Reference no: EM131654559

The Demand curve for normal good X is given by

QD= 40,000 - 10,000Px

a. What is the total revenue (TR) function?

b. What is the marginal revenue (MR) function?

c. At what price is TR maximized and what is TR at that point?

e. Identify the elastic and inelastic region of the demand curve.

Reference no: EM131654559

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