Question 2.The price - demand equation and the cost function for theproduction of HDTVS are given respectively byx =6000 – 30 pand C(x) = 72000+ 60 xwhere x is the number of HDTVS that can be sold at aprice of $p per TV and C(x) is the total cost (in dollars)of producing x TVs.A. Express the price p as a function of the demand x,and find the domain of this function.B. Find the marginal Revenue at a production level of1500 and interpret the resultc. Sketch a graph of Revenue and Cost functions.Indicate interval in which Profit occurs and lossoccurs.

A. Express the price p as a function of the demand x, and find the domain of this function. B. Find the marginal Revenue at a production level of 1500 and interpret the result c. Sketch a graph of Revenue and Cost functions. Indicate interval in which Profit occurs and loss occurs.

A. Express the price p as a function of the demand x, and find the domain of this function. B. Find the marginal Revenue at a production level of 1500 and interpret the result c. Sketch a graph of Revenue and Cost functions. Indicate interval in which Profit occurs and loss occurs.

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

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1.7CE

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