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(a) Given AR =60-3 Q, plot the average-revenue curve, and then find the MR curve by the method used in Fig. 7.2. (b) Find the total-revenue function and the marginal-revenue function mathematically from the given AR function. (c) Does the graphically derived MR curve in (a) check with the mathematically derived MR function in (b) ? (d) Comparing the AR and MR functions, what can you conclude about their relative slopes? | Numerade
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