I am given this question: The price p, in dollars, of a certain commodity and the quantity x sold obey the demand equation p = (−x/5)+200 where 0 ≤ x ≤ 1000 Suppose that the cost C, in dollars, of producing x units is C =(√x/10)+400. Assuming that all items produced are sold, find the cost C as a function of the price p. Is it safe to assume that this question has an issue since the cost C cannot be integrated into the price equation?

I am given this question: The price p, in dollars, of a certain commodity and the quantity x sold obey the demand equation p = (−x/5)+200 where 0 ≤ x ≤ 1000 Suppose that the cost C, in dollars, of producing x units is C =(√x/10)+400. Assuming that all items produced are sold, find the cost C as a function of the price p. Is it safe to assume that this question has an issue since the cost C cannot be integrated into the price equation?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.7P

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