3 given the demand function q 90 2 p the total cost function tc 50 20 q a show that the total re

Name: 3 given the demand function q 90 2 p the total cost function tc 50 20 q a show that the total revenue function is given by the function tr 45q 05q2 b determine the marginal revenue mr functi 03973
Uploaded: 2021-12-16T12:40:50-08:00
Duration: 4 min 48 s
Channel: Charles Machakwa
Description: 3 given the demand function q 90 2 p the total cost function tc 50 20 q a show that the total revenue function is given by the function tr 45q 05q2 b determine the marginal revenue mr functi 03973

Question

Given the demand function: Q = 90 - 2P and the total cost function: TC = 50 + 20Q. a. Show that the total revenue function is given by the function TR = 45Q - 0.5Q^2. b. Determine the Marginal Revenue (MR) function, then calculate the marginal revenue value when the total output (Q) is equal to 10. c. Determine the profit function (π), then determine the level of output that will produce maximum profit. What is the maximum profit?

          Given the demand function: Q = 90 - 2P and the total cost function: TC = 50 + 20Q.
    a. Show that the total revenue function is given by the function TR = 45Q - 0.5Q^2.
    b. Determine the Marginal Revenue (MR) function, then calculate the marginal revenue value when the total output (Q) is equal to 10.
    c. Determine the profit function (π), then determine the level of output that will produce maximum profit. What is the maximum profit?

Added by Victor V.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Charles Machakwa

12/16/2021

Step 1

The total revenue (TR) is given by the price (P) times the quantity (Q). We can express P in terms of Q from the demand function, which gives P = 45 - 0.5Q. Substituting this into the TR equation gives TR = (45 - 0.5Q)Q = 45Q - 0.5Q^2. b. The marginal revenue Show more…

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Given the demand function: Q = 90 - 2P and the total cost function: TC = 50 + 20Q. a. Show that the total revenue function is given by the function TR = 45Q - 0.5Q^2. b. Determine the Marginal Revenue (MR) function, then calculate the marginal revenue value when the total output (Q) is equal to 10. c. Determine the profit function (π), then determine the level of output that will produce maximum profit. What is the maximum profit?