P Q $156.00 9344 $151.32 10040 $146.64 10544 $141.96 11047 $137.28 11483 $127.92 11691 $123.24 11753   A. Use your first demand function to determine an equation for TR and MR as a function of Q, and create a graph of P and MR on the vertical and Q on the horizontal axis. B. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? (Round your price to the nearest cent, your quantity to the nearest whole unit, and your TR to the nearest dollar.) Compare that to the TR when P= $127.92 and P= $149.00

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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P Q
$156.00 9344
$151.32 10040
$146.64 10544
$141.96 11047
$137.28 11483
$127.92 11691
$123.24 11753

 

A. Use your first demand function to determine an equation for TR and MR as a function of Q, and create a graph of P and MR on the vertical and Q on the horizontal axis.

B. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? (Round your price to the nearest cent, your quantity to the nearest whole unit, and your TR to the nearest dollar.) Compare that to the TR when P= $127.92 and P= $149.00

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