Math Problem Solver

If the demand function is P = 60 − Q find an expression for TR in terms of Q . (1) Di erentiate TR with respect to Q to find a general expression for MR in terms of Q . Hence write down the exact value of MR at Q = 50 . (2) Calculate the value of TR when (a) Q = 50 (b) Q = 51 and hence confirm that the 1-unit-increase approach gives a reasonable approximation to the exact value of MR obtained in part (1).