c Instructions for the following questions write your answers and working out on paper. For a full mark of detailed working is needed. You will receive zero marks for answers only When you finish, please convert your work inc PDF file and submit here 10-Q and the total costs function is TC-12+2Q, when Ps Q11 The demand function of a product is P the price per item and Q is the quantity of the product (a) Find an expression for the total revenue (TR) function and deduce the profit function (b) Determine the price(s) which will ensure that the firm's profit is 3 units?

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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Instructions for the following questions write your answers and working out on poper. For a full mark of each qution, all
detailed working is needed. You will receive zero marks for answers only When you finish, please convert your
PDF file and submit here.
Q11.
The demand function of a product is P-10-Q and the total costs function is TC-12+2Q when Pa
the price per item and Q is the quantity of the product.
(a) Find an expression for the total revenue (TR) function and deduce the profit function.
(b) Determine the price(s) which will ensure that the firm's profit is 3 units?
Transcribed Image Text:Instructions for the following questions write your answers and working out on poper. For a full mark of each qution, all detailed working is needed. You will receive zero marks for answers only When you finish, please convert your PDF file and submit here. Q11. The demand function of a product is P-10-Q and the total costs function is TC-12+2Q when Pa the price per item and Q is the quantity of the product. (a) Find an expression for the total revenue (TR) function and deduce the profit function. (b) Determine the price(s) which will ensure that the firm's profit is 3 units?
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