X= 41.666666 repeating. not sure if you wanted the (x)(3) or if you meant x cubed, so x^3
Answer:
The total revenue equation is TR=50Q
The total cost equation TC=2304+14Q
Equilibrium quantity is 64
Step-by-step explanation:
The total cost function can be written TC=a+bQ, where TC is the total cost ,a fixed cost ,b is the variable cost per unit and Q the quantity produced
Revenue function can be given TR=P*Q, where TR is total revenue,P is the price per unit and Q quantity sold
since P is $50
TR=50P
when TC=$3564,
3564=a+90Q equation 1
when TC=$5944
5944=a+260bequation 2
Solving simultaneously,we subtract equation 1 from 2
5944=a+260b
3564=a+90b
2380=170b
b=2380/170
b=$14
We substitute for b in any of the equations
3564=a+(14*90)
3564=a+1260
a=3564-1260
a=2304
Hence the total cost equation is
TC=2304+14Q
At equilibrium TC =TR
50P=2304+14Q
50P-14Q=2304
36Q=2304
Q=64
Answer: 3:1
Step-by-step explanation:
I start with putting it as 36:12 than reduce. Both sides are divisible by 12 so you end up with 3:1
Yes? and what about it I’m confused about this question
