Derivation and Plots of Demand, Marginal Revenue, and Revenue Curves Name (8) Due (worth 50 points) Please do all plots on the grids provided. They are scaled to properly plot the functions. I) Below is a linear demand function. Plot it on the top set of axes. Your demand function is: Qx = 50000 - 100Px 2) The price function is the inverse of the demand function. Write this inverse below. Px = 3) Use the price function (2) to obtain the total revenue function (TR). Write Jok 20k Bok the TR function below. You will plot Horizontal axis is Quantity (thousands) TR on the lower set of axes in step (5). TR = REVENUE (PAD) 4) Derive (or simply write) the marginal revenue (MR) function below. Plot MR along with the demand function (properly located, on the top set of axes). MR = 5) Using the TR function (3), calculate revenue for each of the seven Qx values tabled below. Then use the seven revenues to plot the 4M revenue function properly located on the lower set of axes. Quantity Revenue 0 10k 20k 25k 30k 40k 50k OK 30k 40K *k means thousand Demand_MR_TR_plots8.pdf 01 152021