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The demand function is: Q = 125-P The total cost function is: TC = 270 + 100 Derive equations for (a)~(k) and solve (I)(o)
The demand function is: Q = 125-P The total cost function is: TC = 270 + 100 Derive equations for (a)~(k) and solve (I)(o) mathematically: (a) Average revenue (AR), (b) Total revenue (TR), (c) Marginal revenue (MR), (d) Marginal benefit (MB), (e) Total benefit (TB), (f) Average cost (AC), (g) Marginal cost (MC), (h) Total profit (TP), (i) Marginal profit (MP), () Total net benefit (TNB), (k) Marginal net benefit (MNB), (1) Maximum total profit (TPmax), (m) Maximum total revenue (TRmax), (n) Maximum total net benefit (TNBmax), (o) Price elasticity as Q = 40.
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a Average revenue AR Total Revenue Quantity P b Total revenue TR Price x Quantity P x 125 P c Margin...
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Auditing Cases An Interactive Learning Approach
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
7th Edition
0134421825, 9780134421827
