A company produces a specific good for which the revenue function in terms of the produced amount q is given by the equation TR(q) = √√4q²-0.25q5. a) Find the equation of the inverse demand function p(q) and find its domain. b) Use the result from a) to find an explicit function equation for the demand function q (p) and find its domain and range. The cost function C for this good in terms of the produced amount can be described by the equation C(q) = 6q+8 9+8' c) For which amounts of q will the company make a profit? To this end, solve a proper inequality. You may use the graphical calculator to find zeros of a function if needed.
A company produces a specific good for which the revenue function in terms of the produced amount q is given by the equation TR(q) = √√4q²-0.25q5. a) Find the equation of the inverse demand function p(q) and find its domain. b) Use the result from a) to find an explicit function equation for the demand function q (p) and find its domain and range. The cost function C for this good in terms of the produced amount can be described by the equation C(q) = 6q+8 9+8' c) For which amounts of q will the company make a profit? To this end, solve a proper inequality. You may use the graphical calculator to find zeros of a function if needed.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:A company produces a specific good for which the revenue function in terms of the produced amount q
is given by the equation
TR(q) = √√4q² 0.25q5.
a) Find the equation of the inverse demand function p(q) and find its domain.
b) Use the result from a) to find an explicit function equation for the demand function q (p) and find
its domain and range.
The cost function C for this good in terms of the produced amount can be described by the equation
C(q) =
6q+8
9+8
c) For which amounts of q will the company make a profit? To this end, solve a proper inequality.
You may use the graphical calculator to find zeros of a function if needed.
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Follow-up Question
for a where does the extra q on the denominator come from? if it's just TR/q but on the solution it says TR/q^2
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