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The market for a particular product is characterised by the following demand and supply functions: Qd = 25-3P+ 0.2p² Q₁ = -5 + 3P-0.01p² Calculate the total revenue of this firm at the equilibrium point. O TR = 72 O TR = 90.2 OTR = 85.5 OTR = 100

The market for a particular product is characterised by the following demand and supply functions: Qd = 25-3P+ 0.2p² Q₁ = -5 + 3P-0.01p² Calculate the total revenue of this firm at the equilibrium point. O TR = 72 O TR = 90.2 OTR = 85.5 OTR = 100

Advanced Engineering Mathematics
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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The market for a particular product is characterised by the following demand and supply functions: Qd = 25 - 3P + 0.2p² Qs = -5 + 3P - 0.01P² Calculate the total revenue of this firm at the equilibrium point. O TR = 72 O TR = 90.2 O TR = 85.5 TR = 100
Transcribed Image Text:The market for a particular product is characterised by the following demand and supply functions: Qd = 25 - 3P + 0.2p² Qs = -5 + 3P - 0.01P² Calculate the total revenue of this firm at the equilibrium point. O TR = 72 O TR = 90.2 O TR = 85.5 TR = 100
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