# Economics maths

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#1
was wondering if anyone could provide assistance with this question
A monopolists demand function is given by p+q=100 write down expressions for total revenue and marginal revenue in terms of q and sketch their graphs find the value of q which gives a marginal revenue of and comment on the significange of this value
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4 years ago
#2
You are given P+Q=100. Rearrange it to an inverse demand function (how you would draw it), i.e. P=100-Q

TR is simply P*Q

MR is the additional revenue you get by increasing quantity, or alternatively, the slope of TR. So, find the slope of the TR expression you found before.

Next part you just draw the graph...
0
4 years ago
#3
(Original post by Sionirhew123)
was wondering if anyone could provide assistance with this question
A monopolists demand function is given by p+q=100 write down expressions for total revenue and marginal revenue in terms of q and sketch their graphs find the value of q which gives a marginal revenue of and comment on the significange of this value
We plot quantity on the x-axis and price on the y-axis, so you'll need to get into . You should know the formula of TR and how to work out MR given that it's the additional revenue gained from a small change in quantity. Once you know that, use the graphing principles that you've learnt in Maths to accurately plot them.
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