Advertisements
Advertisements
Question
If MR = 14 – 6x + 9x2, Find the demand function
Advertisements
Solution
MR = 14 – 6x + 9x2
R = `int (14 - 6x + 9x^2) "d"x + "k"`
= 14x – 3x2 + 3x3 + k
Since R = 0
When x = 0
k = 0
So revenue function R = 14x – 3x2 + 3x3
Demand function P = ``"R"/x` = 14 – 3x + 3x2
APPEARS IN
RELATED QUESTIONS
The elasticity of demand with respect to price for a commodity is given by `((4 - x))/x`, where p is the price when demand is x. Find the demand function when the price is 4 and the demand is 2. Also, find the revenue function
Given the marginal revenue function `4/(2x + 3)^2 - 1` show that the average revenue function is P = `4/(6x + 9) - 1`
A firm’s marginal revenue function is MR = `20"e"^((-x)/10) (1 - x/10)`. Find the corresponding demand function
Find the revenue function and the demand function if the marginal revenue for x units is MR = 10 + 3x – x2
The demand function p = 85 – 5x and supply function p = 3x – 35. Calculate the equilibrium price and quantity demanded. Also, calculate consumer’s surplus
Under perfect competition for a commodity the demand and supply laws are Pd = `8/(x + 1) - 2` and Ps = `(x + 3)/2` respectively. Find the consumer’s and producer’s surplus
The demand equation for a products is x = `sqrt(100 - "p")` and the supply equation is x = `"P"/2 - 10`. Determine the consumer’s surplus and producer’s surplus, under market equilibrium
Choose the correct alternative:
If the marginal revenue MR = 35 + 7x – 3x2, then the average revenue AR is
Choose the correct alternative:
The marginal cost function is MC = `100sqrt(x)`. find AC given that TC = 0 when the output is zero is
A company requires f(x) number of hours to produce 500 units. It is represented by f(x) = 1800x–0.4. Find out the number of hours required to produce additional 400 units. [(900)0.6 = 59.22, (500)0.6 = 41.63]
