Biology, asked by saijaltripathy4461, 10 months ago

Calculate utility when consumption and demand is given

Answers

Answered by danielshivasai

The inverse demand function can be used to derive the total and marginal revenue functions. Total revenue equals price, P, times quantity, Q, or TR = P×Q. Multiply the inverse demand function by Q to derive the total revenue function: TR = (120 - .5Q) × Q = 120Q - 0.5Q².

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