Given the following demand functions, express TR as a function of Q and hence sketch the graphs
Question:
Given the following demand functions, express TR as a function of Q and hence sketch the graphs of TR against Q:
(a) P = 4
(b) P = 7/Q
(c) P = 10 − 4Q
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
a TRPQ4Q b TRPQ PQ171 ...View the full answer
Answered By
Rohail Amjad
Experienced Finance Guru have a full grip on various sectors, i.e Media, Insurance, Automobile, Rice and other Financial Services.
Have also served in Business Development Department as a Data Anlayst
4.70+
32+ Reviews
83+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Given the following total revenue functions, find the corresponding demand functions: (a) TR = 50Q 4Q 2 (b) TR = 10
-
A product has the demand function p = 100 - 0.5q where p is in dollars and q is the number of units. (a) Find the elasticity (q) as a function of q, and graph the function f (q) = (q) (b) Find where...
-
Suppose that the prevention cost function is as given in Exercise 1-21. However, the unit appraisal cost is $2, with the cost function being linear in 1 - q, implying a decrease in appraisal costs as...
-
When my niece Michelle told me she had learned to read, she was bursting with pride. How might reflecting on this accomplishment affect how Michelle thinks about herself?
-
On its December 31, 2016, income statement, Durango reported a loss on sale of stock of $4,500. The loss resulted from the sale of 2,000 shares of ABC Corp. stock that Durango purchased during 2016...
-
For the following exercises, write the equation of an ellipse in standard form, and identify the end points of the major and minor axes as well as the foci. 4x 2 + 24x + 25y 2 + 200y + 336 = 0
-
Consider the following cash flow profile and assume MARR is 10 percent/year. a. What does Descartes' rule of signs tell us about the IRR(s) of this project? b. What does Norstrom's criterion tell us...
-
(EPS: Simple Capital Structure) On January 1, 2010, Chang Corp. had 480,000 shares of common stock outstanding. During 2010, it had the following transactions that affected the common stock account....
-
Consider the arithmetic series 7+13+19+25+31+37+43 +...and answer thequestions which follow. a) (i) T. (ii) Express Tin terms of S (2) (2) b) (i) T =........... ... S =... (2) (ii) Express T2 in...
-
Antonio plc makes Product X, the standard costs of which are: ...................................................... Sales revenue ...........................31 Direct labour (1 hour)...
-
(a) If the demand function of a good is given by P = 80 3Q find the price when Q = 10, and deduce the total revenue. (b) If fixed costs are 100 and variable costs are 5 per unit, find the total cost...
-
Given that fixed costs are 500 and that variable costs are 10 per unit, express TC and AC as functions of Q. Hence sketch their graphs.
-
In Exercises find the indefinite integral using the substitution x = tan . x1 + x dx
-
How has digital media affected your relationships? Does it enhance or inhibit connections with others?
-
Give informative speech to a group of new students concerning adapting to college life and responsibilities. discuss 3 organizational patterns you think would be appropriate and 3 points you could...
-
Explain adjustment messages that salvage customers' trust and promote further business with Revealing good news Up Front, Explaining Compliance in the Message Body, Deciding Whether to apologize,...
-
Described why each of us believes what we do; Explain why we choose to respond in a particular way when faced with an ethical dilemma; Define how you will respond when confronted with an ethical...
-
How do I use my relationship-building skills to express to my supervisor how I feel about delivering an impromptu speech without notes and a plan?
-
When a 63-cm-long guitar string is plucked, all possible standing waves simultaneously exist on the string. When you place your finger on the string, any standing waves with nonzero amplitude at that...
-
Wal-Mart is the second largest retailer in the world. The data file on the disk holds monthly data on Wal-Marts revenue, along with several possibly related economic variables. a) Using computer...
-
Labor and material costs for manufacturing two guitar models are (A) If a total of $3,000 a week is allowed for labor and material, how many of each model should be produced each week to use exactly...
-
Repeat Problem 59 if the company decides to include a 1 % bonus for the sales manager in the incentive plan. Problem 59 A small company provides an incentive plan for its top executives. Each...
-
Repeat Problem 59 if the company decides to include a 1 % bonus for the sales manager in the incentive plan. Problem 59 A small company provides an incentive plan for its top executives. Each...
-
Find the LCM for each group of expressions. 1.2x-8x+8 and 3x+27x-30 2. 4x+12x+ 9 and 4x2-9 3. 2x2 18 and 2 5x330x+45x
-
StellarCraft, a space equipment manufacturer, produces three types of space components: "Plasma Thrusters," "Navigation Systems," and "Solar Panels." StellarCraft needs to determine the optimal...
-
If 103 people attend a concert and tickets for adults cost $2.25 while tickets for children cost $1.5 and total receipts for the concert was $179.25, how many of each went to the concert? adults...
Study smarter with the SolutionInn App