Answer to Question #117955 in Microeconomics for eman

Question

We got demand function q=6000-30p (q quantity, p=price). The total cost function is C(q)=72000+60q a) Solve the demand function for p and define its domain b) Find the marginal cost funtion MC and explain the result c) Find the income function R(q)

Answer 1

a) $p=200-1/30q$

b) $MC = dC/dq= 60.$

c)$R= P*Q-C(q)= q(200-1/30q) - 72000-60q= 140q-1/30q^2-72000$