to chage nces ustomers denote the price and demand for the domestic market then the demand equation is R+Q = 500 If P2 and Q2 denote the price and demand for the industrial market then the demand equation is 2P, +3Q, = 720. The total cost function is

to chage nces ustomers denote the price and demand for the domestic market then the demand equation is R+Q = 500 If P2 and Q2 denote the price and demand for the industrial market then the demand equation is 2P, +3Q, = 720. The total cost function is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A firm is allowed to charge different prices for its domestic and industrial customers. If Pi and QI
denote the price and demand for the domestic market then the demand equation is
R+Q; = 500
If P2 and Q2 denote the price and demand for the industrial market then the demand equation is
2P, +3Q, = 720
The total cost function is
TC = 50000+ 200

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