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

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

See More Books

Question Posted: Apr 18, 2019 08:51 AM

See More 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...
Idris Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity...
Review the ways in which human resource management is being conducted across the entire business, within the line as well as by the HR specialists.
Quoton Corporation acquired 80 percent of Tempro Companys common stock on December 31, 20X5, at underlying book value. The book values and fair values of Tempros assets and liabilities were equal,...
Fill in the highlighted cells
Lets think about the demand for LED TVs. a. If the price for a 60-inch LED TV is $800, and Newhart would be willing to pay $3,000, what is Newharts consumer surplus? b. Consider the following figure...
(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.
Let u and v be vectors in an inner product space V. (a) Expand (2u - 7v, 3u + 5v). (b) Expand (3u - 4v, 5u + v). (c) Show that ||u + v||2 = ||u||2 + 2(u,v) + ||v||2. (d) Show drat ||u - v||2 = ||u||2...
+ Given f(x) = x - 9 and g(x) = x+9, complete the following. (a) Find f(g(x)) and g(f(x)). (Simplify your answers completely.) f(g(x)) = g(f(x)) = (b) What does this tell us about the relationship...
Case Study - Rhonda Rhonda is a 28-year-old woman who has been referred to your agency by a local probation officer. Rhonda reported that she has "fired" three counselors in the past and most...
Calculating depreciationpartial periods LO2, 3 West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $936,000,...
Question 1. Write down the form of partial fractions needed to decompose the following: 482+2 (a) s32s24s 482+2 (c) s36s20 482 +2 - 4s8 (b) 8. 3 - 282 482+2 (d) s3 +2s2 - 2 Note: You are not being...
On December 31, 2022, Ace Hardware reported the following information on its balance sheet Accounts Receivable Allowance for Doubtful Accounts $900,000 $54,000 (credit) During 2023, the Company had...
What is one difference in point-plotting parametric equations compared to Cartesian equations?
Cobb Manufacturing Company uses a process cost system and average costing. The following production data is for the month of June 2011. Production Costs Work in process, beginning of the month:...
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...
A person purchased a $181,873 home 10 years ago by paying 20% down and signing a 30-year mortgage at 8.4% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid...
3 . Accounting.. How does depreciation impact financial statements, and what are the different methods of depreciation?
NEED THIS EXCEL TABLE ASAP PLEASE!!!! Presupuesto Operacional y C lculo del COGS Ventas Proyectadas: Ventas Proyectadas: $ 4 5 0 , 0 0 0 Precio por unidad: $ 4 5 0 Unidades vendidas: 4 5 0 , 0 0 0 4...

Given the following demand functions, express TR as a function of Q and hence sketch the graphs

Question:

Step by Step Answer:

a TRPQ4Q b TRPQ PQ171 ...View the full answer

Mathematics for Economics and Business

Students also viewed these Mathematics questions