In a purely monopolistic market with a demand curve P = -Q / 10 + 2000, to maximize profit the firm provides the application at
1 answer:
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Answer:
A. Equation is
B. Cost is $88
Step-by-step explanation:
A)
Suppose you rent for x hours and each hour costs $15.75
<u><em>How much would you need to pay?</em></u>
Moreover, there is a $25 dollar (fixed) deposit for renting, so that gets added to your payment. All in all, you have to pay
This is the equation of renting a snowboard for x hours.
Equation is
- Where x is the number of hours you rent the snowboard, and
- c is the total cost
B)
If you are renting from 8.30 to 12.30, you are basically renting for 4 hours.
To know how much it will cost, you simply plug in 4 into x (in the equation):
Cost is $88