A weed called the raindrop vine is known for growing at a very fast rate. It can grow up to 0.75 feet per day. How fast in inche
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Answer:
Quantity = 59 units
Price = $111
Step-by-step explanation:
The Demand function is given by
The Marginal cost is given by
We are asked to find the quantity and price of goods.
Firstly, obtain the Marginal revenue function from the demand function
The Total revenue is given by
The Marginal revenue is the derivative of the Total revenue,
Assuming that the monopolist maximizes profits,
Therefore, the quantity is 59 units.
The price of each good is
Therefore, the price is $111.
X-intercept: 9
Y-intercept: 3
Intercepts are plotted on the graph below
Y-intercept: 3
Intercepts are plotted on the graph below