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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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 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
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