Saved Bookmarks
| 1. |
Tutorial - 1The demand D and the price p of a commodity are related by 100D + 2p = 440.Express i))the demand function, ii)total revenue function in terms of D.Find p(2) and R(3 |
|
Answer» GIVEN : demand D and the price p of a commodity are related by 100D + 2p = 440. To find : i) the demand function, ii)total REVENUE function in TERMS of D. Step-by-step explanation: D - Demand P - price of commodity 100D + 2p = 400 => 100D = 400 - 2p => D = (400 - 2p)/100 => D = 4 - p/50 Demand fucntion D = 4 - p/50 Total Revenue = Demand * Price => Total Revenue = (4 - p/50)p => Total Revenue = 4p - p²/50 => R = 4p - p²/50 100D + 2p = 400 => 50D + p = 200 => p = 50(4 - D) Total Revenue = D 50(40 - D) = 50 (40D - D²) = 2000D - 50D² R = 2000D - 100D² in terms of D Learn more: A MONOPOLIST's demand function is p = 300 - 5x, answer the ... A monopolist's demand function is p = 300 - 5x, answer the ... |
|