Write the total revenue function

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Reference no: EM131388912

An electronics firm sells 1,000 HDTVs per week at a selling price of $450 each. A market survey indicates that for each $10 reduction in selling price, the number of TVs sold increases by 100 per week.

(a) Write the demand function: Q_D= f (P)

(b) Write the inverse demand function: P = f (Q_D)

(d) If the firm were interested only in maximizing total revenue, how much should it charge (P) for each set and how many units (Q) will it sell?

Reference no: EM131388912

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