For the demand schedule p = 100 - 2Q. Find total revenue & marginal revenue function & calculate the value of marginal revenue when Q= 20
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Total revenue is calculated as the price (p) times the quantity (Q). So, we substitute p = 100 - 2Q into the equation to get TR = p*Q = (100 - 2Q)*Q = 100Q - 2Q^2. Show more…
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