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The demand function can be expressed algebraically as: P = zoo04996059350 P = 2802QifQ>50 Calculate the marginal revenue (MR) function facing Chillman and plot it
The demand function can be expressed algebraically as: P = zoo04996059350 P = 2802QifQ>50 Calculate the marginal revenue (MR) function facing Chillman and plot it on the graph using the green points (triangle symbols). (Hint: Start with (0,200) and end at (70, 0). Use all four points.) Chillman's total cost function is as follows: TC = 500 + 40Q + 0.5Q2 Using the orange line (square symbols), plot the marginal cost curve on the graph. Chillman maximizes profit by selling I: units at a price of per unit. Chillman Motors, Inc., is an oligopolist and faces the following kinked demand curve: 200 A 180 MR 160 O 140 120 MC 100 Price and cost ($/Unit) 80 60 40 20 0 10 20 30 40 50 60 70 80 90 100 Quantity
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