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
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9926f2bb-3232-47f1-8a62-792d48ac20e1%2F63d0c984-adc0-41d5-ac11-28856e464012%2Fdcwzdwg_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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