Question
A firm's total revenue function is given as TR = 10q - 10q². Find the firm's marginal revenue.
Answers
Answered by
GPT 3.5
To find the firm's marginal revenue, we need to take the derivative of the total revenue function with respect to quantity (q).
TR = 10q - 10q²
To find the marginal revenue (MR), we need to find the derivative of TR with respect to q:
MR = d(TR)/dq
MR = d(10q - 10q²)/dq
MR = 10 - 20q
Therefore, the firm's marginal revenue function is MR = 10 - 20q.
TR = 10q - 10q²
To find the marginal revenue (MR), we need to find the derivative of TR with respect to q:
MR = d(TR)/dq
MR = d(10q - 10q²)/dq
MR = 10 - 20q
Therefore, the firm's marginal revenue function is MR = 10 - 20q.
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