Example of function, Mathematics

Assignment Help:

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

Related Discussions:- Example of function

Division of complex number, Division of complex number Now, we gave thi...

Division of complex number Now, we gave this formula a long with the comment that it will be convenient while it came to dividing complex numbers so let's look at a couple of e

Calculate annual interest rate, 1. What is the present value of a security ...

1. What is the present value of a security that will pay $15,000 in 15 years if securities of equal risk pay 8.9% annually? Round your answer to the nearest cent. 475,858.20

Solution of quadratic equations, Solution of quadratic equations, please pr...

Solution of quadratic equations, please provide me the assignment help for solving the quadratic equations.

Descriptive statistics, Descriptive Statistics Statistics Definit...

Descriptive Statistics Statistics Definition of Statistics: it viewed as a subject is a process of tabulating, collecting and analyzing numerical data upon which importan

How to plot line graphs, Q. How to plot Line Graphs? Ans. Line gra...

Q. How to plot Line Graphs? Ans. Line graphs can be useful in analyzing data. They are particularly helpful when you are interpolating or extrapolating information from y

Standard deviation, 2.When investigating times required for drive-through s...

2.When investigating times required for drive-through service, the following results (in seconds) were obtained. Find the range, variance, and standard deviation for each of the tw

Solid mensuration, what is the importance of solid mensuration?

what is the importance of solid mensuration?

Permuation and combination, how many words can be formed from letters of wo...

how many words can be formed from letters of word daughter such that each word contain 2vowles and 3consonant

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd