The demand function Q and cost function C(Q) of a commodity are given by the equations \[ Q = 20 - 0{,}01P\]

Mathematics

1 answer:

BartSMP [9]2 years ago

3 0

The total revenue of the function is the product of the quantity and the price

The total revenue in terms of P is TR = 20P - 0.01P^2

<h3>How to determine the total revenue?</h3>

The demand and the cost functions are given as:

Quantity function, Q = 20 - 0.01P

Cost function, C(Q)=60+6Q

The total revenue is calculated as:

TR = Q * P

Substitute Q = 20 - 0.01P in the above equation

TR = P * [20 - 0.01P]

Evaluate the product

TR = 20P - 0.01P^2

Hence, the total revenue in terms of P is TR = 20P - 0.01P^2

You might be interested in

How are you supposed to find the slope of a line?

MArishka [77]

You have to find two definite points on the graph, i'll use (1,4) and (2,6) as an example

The slope formula is (y2-y1)/(x2-x1)

This means you have to subtract the first y value from the second divide it by the first x value subtracted from the second

In my example you have to do (6-4)/(2-1) to get 2/1, or 2

Hope this helps!

7 0

3 years ago

Erase 3/5 of the shape part below. How much of the original figure will be shaded?

VMariaS [17]

2/5 will be shaded in the original how I got it s that you make a rectangle and make fifths inside and shade in 3/5 of that and see what matches up on the top.

6 0

3 years ago

Read 2 more answers

How do you write 2.3 x 103 in standard form?

Misha Larkins [42]

Answer:

2300

Step-by-step explanation:

$2.3 \times {10}^{3} \\ \\ = 2.3 \times 1000 \\ \\ = 2300$