The demand curve for Blivets has the formula P =h(q) = 12-4q Where q is measured in thousand of Blivets and p is measured in dollars. We Get Total revenue(measured in thousands of dollars) TR(q)=q*h(q). The total cost (measured in thousands of dollars ) of manufacturing Blivets Is given by the formula TC(q)= q+1. Due to the limited supply of raw material, we Cannot manufacture more than 3500 Blivets ( q=3.5) d) b) find the value of q in the interval between q=0 and q=3.5 thousand blivets at which TR(q) reaches its largest value
The demand curve for Blivets has the formula P =h(q) = 12-4q Where q is measured in thousand of Blivets and p is measured in dollars. We Get Total revenue(measured in thousands of dollars) TR(q)=q*h(q). The total cost (measured in thousands of dollars ) of manufacturing Blivets Is given by the formula TC(q)= q+1. Due to the limited supply of raw material, we Cannot manufacture more than 3500 Blivets ( q=3.5) d) b) find the value of q in the interval between q=0 and q=3.5 thousand blivets at which TR(q) reaches its largest value
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
Chapter12: Price And Output Determination: Oligopoly
Section: Chapter Questions
Problem 5E
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The demand curve for Blivets has the formula
P =h(q) = 12-4q
Where q is measured in thousand of Blivets and p is measured in dollars. We
Get Total revenue(measured in thousands of dollars)
TR(q)=q*h(q). The total cost (measured in thousands of dollars ) of manufacturing Blivets
Is given by the formula TC(q)= q+1. Due to the limited supply of raw material, we
Cannot manufacture more than 3500 Blivets ( q=3.5)
d) b) find the value of q in the interval between q=0 and q=3.5 thousand blivets at which TR(q) reaches its largest value
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