If the demand function is P = 100 4Q find expressions for TR and MR in
Question:
If the demand function is
P = 100 − 4Q
find expressions for TR and MR in terms of Q. Hence estimate the change in TR brought about by a 0.3-unit increase in output from a current level of 12 units.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
TR PQ 1...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
If the demand function is P = 80 3Q show that MR = 2P 80
-
If the consumption function is C = 0.02Y 2 + 0.1Y + 25 find the value of Y when MPS = 0.38.
-
Differentiate y = x 5 (x + 2) 2 (a) by using the product rule; (b) by first multiplying out the brackets and then differentiating term by term.
-
In September 2020 Kevin sells a drawing for 2,000. He bought the drawing in February 2014 for 50,000 when it was thought (incorrectly) to be by a famous artist. Compute the allowable loss.
-
Methane is combusted with dry air, as displayed in Fig. 12.23. A dry volumetric analysis of the products indicates 6.2% CO2, 9.9 % O2, and 83.9% N2. Estimate the air-fuel ratio and the percentage of...
-
Henry's Hardware is a small family business in Sacramento, California. The owners, Henry and Kathleen, must use even' square foot of store space as profitably as possible. They have never kept dewed...
-
Waddell Sc Reed, Inc., has the following stockholders' equity: First, determine whether preferred stock is cumulative or noncumulative. Then compute the amount of dividends to preferred and to common...
-
Levesque Company makes and sells lawn mowers for which it currently makes the engines. It has an opportunity to purchase the engines from a reliable manufacturer. The annual costs of making the...
-
1. Cole Products is considering acquiring a manufacturing plant. The purchase price is $1,854,150. The owners believe the plant will generate net cash inflows of $309,025 annually. It will have to be...
-
The Beef-Up Ranch feeds cattle for Midwestern farmers and delivers them to processing plants in Topeka, Kansas, and Tulsa, Oklahoma. The ranch must determine the amounts of cattle feed to buy so that...
-
Find expressions for (a) dQ/dP for the supply function Q = P 2 + P + 1 (b) d(TR)/dQ for the total revenue function TR = 50Q 3Q 2 (c) d(AC)/dQ for the average cost function AC = 30/Q + 10 (d) dC/dY...
-
A monopolists demand function is given by P + Q = 100 Write down expressions for TR and MR in terms of Q and sketch their graphs. Find the value of Q which gives a marginal revenue of zero and...
-
Parnevik Company has the following investments in its investment portfolio on December 31, 2010 (all investments were purchased in 2010): (1) 3,000 ordinary shares of Anderson Co. which cost $58,500,...
-
What is the relative significance of relative and absolute brain size in trying to understanding the evolution of brain and behavior?
-
According to a Labour Force Survey in a country, total employment increased by around 1.35 million workers between 2014 and 2020, but the number of unemployed workers increased by 350,000. a. How are...
-
What are the two primary modes of speciation?
-
What is the cerebrum and how is it anatomically organized?
-
What is taxonomy?
-
Draw the shear and moment diagrams for the shaft and determine the shear and moment throughout the shaft as a function of x for 0 ¤ x < 3 ft, 3 ft < x < 5 ft, and 5 ft < x < 6 ft. The bearings...
-
Dr. Chan obtained a $15,000 demand loan at prime plus 1.5% on September 13 from the Bank of Montreal to purchase a new dental X-ray machine. Fixed payments of $700 will be deducted from the dentists...
-
In Problem write the equations of the vertical and horizontal lines through each point. (-5, 6)
-
In Problem write the equations of the vertical and horizontal lines through each point. (4, -3)
-
In Problem solve and graph. -3 4 - 7x < 18
-
You are the Business Analyst on the myCHC project and you want to begin this initiative with the tasks listed under the Business Analysis Planning and Monitoring Knowledge area. Please explain the...
-
How do various credit scoring models, like FICO and VantageScore, impact the approval process for mortgage loans, and what is the significance of credit risk in determining interest rates and other...
-
1. Conduct consumer and market research based on which construct the House of Quality (QFD) for a Suitcase. i. Consider the development of Suitcase design using House of Quality (QFD) template ....
Study smarter with the SolutionInn App