Example of function, Mathematics

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







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