Question
Consider the demand function Q = 900*P^-2.0. Total revenue is TR = P*Q suppose the firm is considering reducing price from P = 4.5 to
Consider the demand function Q = 900*P^-2.0. Total revenue is TR = P*Q suppose the firm is considering reducing price from P = 4.5 to P =4.4. What is the marginal revenue MR= deltaTR/deltaQ?
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
