Answer to Question #332625 in Calculus for Olga

Question

The demand function Q(P) and cost functions C(Q) of a commodity are given by the equations:

Q=12000−60P

C(Q)=10000+4Q,

where P and Q are the price and quantity, respectively. 

The total revenue function TR in terms of P is

a. TR=12 000−60P.

b. TR=P(12 000−60P^2).

c.  TR=12 000P−60P^2.

d.  TR=12 000+60P^2.

Answer 1

The total revenue function (TR), in terms of P

TR = Q * P = 12000P - 60P²; Q =12 000 - 60 P

answer:c