Landsburg chpt. 5
Steve Langlois ( (no email) )
Wed, 07 Apr 99 10:36:52 -0500
After some of those Daykin and Bowers questions, this one should be
relatively easy. 1984 exam 5 question #73 - They give the demand
equation as P=1,000-2Q. They want equations for total revenue and
marginal revenue. Total revenue is 1,000Q-2Q^2. To get the MR, I
take the derivative of TR to get 1,000-4Q. The answer in the CSM
manual is 998-4Q. They use ((Q+1)plugged into TR equation) minus (Q
plugged into TR equation). I know the answers are close but the
derivative is so much easier [to work with]. Do you think the CAS
will accept the derivative based solution?
Steve