Describe a way that someone could estimate the length of a book
1 answer:
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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.
The total space in the parking lot is 1600 cars
It is mentioned that parts of this parking is filled
Now we are required to find what is the three-fourths part of 1600
To find it we multiply times 1600
=
=
= 1200 cars
Hence 1200 cars fills the three-fourths of the car parking lot that has a capacity of 1600 cars