Part (a)shows total revenue R,total cost C,and profit,the difference between the two.Part(b)shows average and marginal revenue and average and marginal cost. Marginal revenue is the slope of the total revenue curve,and marginal cost is the slope of the total cost curve. Suppose:C(Q)=50+Q2(MC=△C/△Q=2Q) P(Q)=40-Q R=P(Q)Q=(40-Q)Q MR=40-2Q MC=MR 40-2Q=20 Q=10 Part (a) shows total revenue R, total cost C, and profit, the difference between the two. Part (b) shows average and marginal revenue and average and marginal cost. Marginal revenue is the slope of the total revenue curve, and marginal cost is the slope of the total cost curve. Suppose: C(Q) = 50 + Q2 (MC = △C/△Q = 2Q) P(Q) = 40 – Q R = P(Q)Q =( 40 – Q)Q MR = 40 – 2Q MC =MR 40 – 2Q = 2Q Q = 10