The demand function 𝑄 and cost function 𝐶(𝑄) of a commodity are given by the equations \[ Q = 20 - 0{,}01P\]
𝐶(𝑄)=60+6𝑄,
where P and 𝑄 are the price and quantity, respectively.
The total revenue function (𝑇𝑅) in terms of 𝑃 is
a.
TR=20−0,01P.
b.
TR=P(120−0,01P2).
c.
TR=20P−0,01P2.
d.
𝑇𝑅=𝑃2(20−0,01𝑃2).
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