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2. (25 POINTS) The demand function for a good is: q = 100 - 2p (a) Find the inverse demand function, the total revenue
2. (25 POINTS) The demand function for a good is: q = 100 - 2p (a) Find the inverse demand function, the total revenue function and the marginal revenue func (b) Find the price and quantity which maximize total revenue. Show you have a maximum. (c) Sketch the graphs of the inverse demand function and the marginal revenue function on the sa axes. Show the solution. (d) Sketch the graph of the total revenue function. Justify your answer.
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Cost Accounting
Authors: William K. Carter
14th edition
759338094, 978-0759338098
