Revenue and Marginal Revenue Calculation

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Revenue and Marginal Revenue Calculation.

Please review this video:

After reviewing the video, attend the class and be prepared to demonstrate:

  • How (mathematically) Total Revenue function is constructed, given the firm’s demand function.
  • Once total revenue function is determined, how to derive marginal revenue function of the firm (using first derivative of total revenue function).
  • The rule to maximize total revenue
  • How to calculate the quantity/price combination that maximizes total revenue.
  • Why total revenue starts declining after a specific point.

Revenue and Marginal Revenue Calculation

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