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If the inverse demand function is p=240 -3Q, what is the marginal revenue function? Draw the demand and marginal revenue curves. At what quantities do
If the inverse demand function is p=240 -3Q, what is the marginal revenue function? Draw the demand and marginal revenue curves. At what quantities do the demand and marginal revenue lines hit the quantity axis? The marginal revenue function (MR) is MR= 1.) Using the line drawing tool, graph the demand curve. Label this 'D.' 2.) Using the line drawing tool, graph the marginal revenue curve. Label this 'MR.' Carefully follow the instructions above, and only draw the required objects. The demand curve intersects the horizontal, quantity axis at I: units and the marginal revenue curve at I: units. (Enter your responses as whole numbers.) 400 360 320 250 240 P, $ per unit N O D _\\ U) D 120 80 4O 0 0 20 4O 60 80 100 120 140 160 180 200 Q, Quantity 9,0 I3
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