Q10. Given the supply and demand functions: P = 10 + 2Q, P = 30 – Q Which of these statements are correct? The Total Revenue function, TR = 30Q – Q² I. II. %3D The Marginal Revenue function = 30 – 2Q. A. Both Incorrect. B. I. only correct. D. Both I. & II. Correct. C. II only correct.

College Algebra (MindTap Course List)
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ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
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Q10. Given the supply and demand functions: P = 10 + 2Q, P = 30 – Q
Which of these statements are correct?
The Total Revenue function, TR = 30Q – Qʻ
The Marginal Revenue function = 30 – 2Q.
I.
II.
A. Both Incorrect.
В.
B. I. only correct.
D. Both I. & II. Correct.
C. II only correct.
Transcribed Image Text:Q10. Given the supply and demand functions: P = 10 + 2Q, P = 30 – Q Which of these statements are correct? The Total Revenue function, TR = 30Q – Qʻ The Marginal Revenue function = 30 – 2Q. I. II. A. Both Incorrect. В. B. I. only correct. D. Both I. & II. Correct. C. II only correct.
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