Question

Question 1

Answer 1

Given:

The demand function is,

$Q=-3p^2+2p+1970$

The total revenue function is,

$\begin{gathered} TR=p\times Q \\ TR=p\times(-3p^2+2p+1970) \\ TR=-3p^3+2p^2+1970p \end{gathered}$

Answer:

$TR=-3p^3+2p^2+1970p$