Example 

Suppose the demand and cost functions are given by

         Q = 21 - 0.1P and C = 200 + 10Q

Where,

         Q - Quantity sold

         P - Price per unit sold

         C - Cost of production.

We can compute the revenue and profit as:

Revenue	=	Q x P
	=	Q[210 - 10Q]
	=	210Q - 10Q2
Profit	=	Revenue - Cost
	=	210Q - 10Q2 - [200 +10Q]
	=	-10Q2 + 200Q - 200

Posted Date: 9/13/2012 5:49:17 AM | Location : United States

Ask an Expert

Related Discussions:- Example of function, Assignment Help, Ask Question on Example of function, Get Answer, Expert's Help, Example of function Discussions

Write discussion on Example of function
Your posts are moderated

Write your message here..

Related Questions

Help, How do I solve step by step 7 How do I solve step by step 7

Graph all four vectors on similar axis system, The vector a → =(2,4) compu... The vector a → =(2,4) compute 3a → , ½ a → and -2a → . Graph all four vectors on similar axis system. Solution: Now here are the three scalar Multiplication 3a → = (6,

Root of function, Root of function: All throughout a calculus course we wi... Root of function: All throughout a calculus course we will be determining roots of functions.  A root of function is number for which the function is zero.  In other terms, determ

Example of regression equation, Example of Regression Equation An inve... Example of Regression Equation An investment company advertised the sale of pieces of land at different prices. The given table shows the pieces of land their costs and acreag

COMPUTERISED PAYROLL PACKAGES, TYPES OF COMPUTERISED PAYROLL PACKAGES TYPES OF COMPUTERISED PAYROLL PACKAGES

Share and divivend, project project

Advantages of peer interaction in learning maths, Can you think of some mor... Can you think of some more advantages of peer interaction and child-to child learning? If you agree that children learn a lot from each other, then how can we maximise such oppo

Karls pearsons co-efficient of correlation, Aim: To test the significan... Aim: To test the significant relationship between the accounting ratios of operating management and standard ideal ratios. Null Hypothesis(H 0 ) : There is no significa

Convert fractions into decimals, 11/20= 11/20=

Prove that its inclination theta to the horizontal, Two stations due south ... Two stations due south of a tower, which leans towards north are at distances 'a' and 'b' from its foot. If α and β be the elevations of the top of the tower from the situation, Pr