Y = 3/2x + b
4 = 3/2(-10) + b
4 = -15 + b, b = 19
Y = 3/2x + 19
Answer: a) Q= 5units
b) R= $75
Step-by-step explanation:
The maximum revenue is at dR/dq = 0
Revenue = price x quantity of demand = p × q
Substituting p = 30- 3q
R = (30-3q) × q
R= 30q- 3q2 (q2 = q raised to the power of 2)
dR/dq = 30- 6q = 0
6q = 30
q= 30/6= 5
q= 5 units
R = pq= 30q- 3q2
R= 30(5) - 3( 5×5)
R= 150- 75
R= $75
Goodluck...
Step-by-step explanation:
remember, the denominator cannot be equal to zero if you want the domain to be valid
Annual premium = 30 * 28.23 = $846.90
