Question
1, What does a demand function tell us exactly? What does a demand curve show? How are they different? 2, Define (in symbol form if
1, What does a "demand function" tell us exactly? What does a "demand curve" show? How are they different?
2, Define (in symbol form if you like) total revenue, average revenue, and marginal revenue. Why is a knowledge of these measures important for the business firm?
Total Revenue:
Average Revenue:
Marginal Revenue:
Why important?
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
