Question

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).