Tutorial - 1
The demand D and the price p of a commodity are related by 100D + 2p = 440.
Express i))the demand function, ii)total revenue function in terms of D.
Find p(2) and R(3
Answers
Given : demand D and the price p of a commodity are related by 100D + 2p = 440.
To find : i) the demand function, ii)total revenue function in terms of D.
Step-by-step explanation:
D - Demand
P - price of commodity
100D + 2p = 400
=> 100D = 400 - 2p
=> D = (400 - 2p)/100
=> D = 4 - p/50
Demand fucntion D = 4 - p/50
Total Revenue = Demand * Price
=> Total Revenue = (4 - p/50)p
=> Total Revenue = 4p - p²/50
=> R = 4p - p²/50
100D + 2p = 400 => 50D + p = 200 => p = 50(4 - D)
Total Revenue = D 50(40 - D)
= 50 (40D - D²)
= 2000D - 50D²
R = 2000D - 100D² in terms of D
Learn more:
A monopolist's demand function is p = 300 - 5x, answer the ...
https://brainly.in/question/13472423
A monopolist's demand function is p = 300 - 5x, answer the ...
https://brainly.in/question/13501380