2. If the price/demand function is p-50-1.25x and the total cost function is 160+10x, where x is the number of units (D) in thousands and cost is in dollars, determine the following: a. General Equation of the Total Profit (profit function) b. General Equation of the Total Revenue (revenue function)
2. If the price/demand function is p-50-1.25x and the total cost function is 160+10x, where x is the number of units (D) in thousands and cost is in dollars, determine the following: a. General Equation of the Total Profit (profit function) b. General Equation of the Total Revenue (revenue function)
Chapter1: Making Economics Decisions
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![2. If the price/demand function is p-50-1.25x and the total cost function is 160+10x,
where x is the number of units (D) in thousands and cost is in dollars, determine the
following:
a.
b.
General Equation of the Total Profit (profit function)
General Equation of the Total Revenue (revenue function)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f18a5bf-e563-4eed-b802-e92c214e8163%2Fd776dc8d-a5b6-4411-9782-837660e2dc83%2F7nrt6y_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. If the price/demand function is p-50-1.25x and the total cost function is 160+10x,
where x is the number of units (D) in thousands and cost is in dollars, determine the
following:
a.
b.
General Equation of the Total Profit (profit function)
General Equation of the Total Revenue (revenue function)
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