Question: 9. The demand function for a good is given by equation P=2400-8Q were P is the price per unit and Q is the number of

9. The demand function for a good is given by equation P=2400-8Q were P is the price per unit and Q is the number of units sold. A total cost function TC is given by the equation TC=80-120Q+5Q2

a. Write the equation for total revenue (TR)

b. show values of Q when TR is zero

c. Draw TR function over the range of -2

graph.

d. Find the value of Q for which TC is zero, algebraically.

e. Draw TC on the same graph as in part c above and write the answer in part d on the

graph.

f. Algebraically find the value of Q for which profit is zero (break-even point).

g. Draw a separate graph Show break-even point(s) on the graph.

h. show the range of values of Q for which the company makes profit.

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