Firm is facing downward-sloping demand curve

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Reference no: EM131091247

A firm is facing a downward-sloping demand curve: q = 96 - 2P.

a) Write the inverse demand function, i.e. write P as a function of q.

b) Derive the total revenue as a function of q.

c) Derive the marginal revenue as a function of q.

d) Graph the demand curve and the marginal revenue curve in one graph.

Reference no: EM131091247

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