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Marginal Revenue (MR)
This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TRn-1 is Total Revenue from the sale of (n-1) units and TRn is total revenue from the sale of n units, then the marginal revenue of the nth unit is given as:
dTR = P(1 - 1/Ed) or TRn - TRn - 1
dQ
p=10, TC= 1000+2Q+.01Q^2, Q=?
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
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