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s one and seven are support questions needed to answer the actual question to be answered 7.) Given the following total-cost schedule: Q 0 1
s one and seven are support questions needed to answer the actual question to be answered 7.) Given the following total-cost schedule: Q 0 1 2 3 4 TC 1 12 14 15 20 Derive the average-and marginal-cost schedule 1. Given the following total-revenue function: TR=9Q-Q2 Derive the total-revenue, average revenue, and marginal revenue schedules from Q=0 to Q=4 by 1s. Average revenue(AR)=total revenue(TR)/Q Marginal revenue(MR)=change in total revenue/change in Q For example: Q TR AR MR 2 14 7 3 18 6 4 Question to be answered: With the Total-revenue schedule of Problem 1 and the total cost schedule of problem 7, show the profit maximizing level of output
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