Luke used regression analysis to fit quadratic relations to monthly revenue, TR, and total cost, TC, data with the following where Q is quantity. TR = -0.008Q² + 32Q TC = 0.005Q² +2.2Q + 10 The range of profitable demand is from Blank 1 units (round up) to Blank 2 units (round down). Note on rounding to whole number: The rounded values of 6,543.71 are 6,544 (round off or simply round), 6,543 (round down), and 6,544 (round up).

Luke used regression analysis to fit quadratic relations to monthly revenue, TR, and total cost, TC, data with the following where Q is quantity. TR = -0.008Q² + 32Q TC = 0.005Q² +2.2Q + 10 The range of profitable demand is from Blank 1 units (round up) to Blank 2 units (round down). Note on rounding to whole number: The rounded values of 6,543.71 are 6,544 (round off or simply round), 6,543 (round down), and 6,544 (round up).

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 8E

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