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Q. Provided following total-revenue function:TR=9Q-Q(2)
A) Derive total, average and marginal revenue schedules from Q=0 to Q=6 by 1's
B) On same set of axes, plot total , average and marginal-revenue schedules of part (a)
c) Then draw on same set of axes marginal-revenue curve derived in part 1 and marginal-cost curve derived in problem 7 and use m to explain why best level of output of firm is 3 units.
d) Explain why your answer to part (a) is an example of marginal analysis and optimizing behaviour in general.
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