The demand function of a certain good is given by q = 400 - 4p and the production cost function by c = 193 +3q. a. Give the equation of the function c(p). b. Give the equation of the inverse (of the) demand function. c. Find out for which values of q (mind the variable!) the company makes a profit.
The demand function of a certain good is given by q = 400 - 4p and the production cost function by c = 193 +3q. a. Give the equation of the function c(p). b. Give the equation of the inverse (of the) demand function. c. Find out for which values of q (mind the variable!) the company makes a profit.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:8. The demand function of a certain good is given by q = 400 - 4p and the production cost function by
c = 193 + 3q.
a. Give the equation of the function c(p).
b. Give the equation of the inverse (of the) demand function.
c. Find out for which values of q (mind the variable!) the company makes a profit.
d. Which of the following functions are one-to-one functions: demand function, cost function and
profit function? Explain your answers.
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