1. 

   shdh Ton up Member

   In the above question, why did MR of poor be p(1-1/3)?
   
   How was the solution arrived at?
   
   Thanks!
   Regards,
   Shyam

    

   shdh, Sep 9, 2016

   #1
2. 

   Whippet1 Member

   Q= 1/(P^3)
   
   So: Q * P^3 = 1, which means P^3 = Q^(-1), ie P = Q^(-(1/3))
   
   Now: TR = P*Q = Q^(-(!/3))*Q = Q^(2/3)
   
   So: MR = dTR/dQ = 2/3 * Q^(-(1/3)) = 2/3 * P = P*(1 - 1/3)
   
   Hope this helps.

    

   Whippet1, Sep 12, 2016

   #2

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