A firm faces a demand function of the form P = 90 – 2Q? (a) Plot the graph for their total revenue (b) If the marginal cost is given by MC(Q) = 3Q² – 8Q + 7 and TC(0) = 0, estimate the total profit if they produce 5 units (round up the answers to 2 decimals)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Q3. A firm faces a demand function of the form
P = 90 – 2Q?
(a) Plot the graph for their total revenue
(b) If the marginal cost is given by MC(Q) = 3Q² – 8Q + 7
and TC(0) = 0, estimate the total profit if they produce 5
units (round up the answers to 2 decimals)
Transcribed Image Text:Q3. A firm faces a demand function of the form P = 90 – 2Q? (a) Plot the graph for their total revenue (b) If the marginal cost is given by MC(Q) = 3Q² – 8Q + 7 and TC(0) = 0, estimate the total profit if they produce 5 units (round up the answers to 2 decimals)
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