A company produces a specific good for which the revenue function in terms of the produced amount q is given by the equation TR(q) = √√4q²-0.25q5. a) Find the equation of the inverse demand function p(q) and find its domain. b) Use the result from a) to find an explicit function equation for the demand function q (p) and find its domain and range. The cost function C for this good in terms of the produced amount can be described by the equation C(q) = 6q+8 9+8' c) For which amounts of q will the company make a profit? To this end, solve a proper inequality. You may use the graphical calculator to find zeros of a function if needed.

A company produces a specific good for which the revenue function in terms of the produced amount q is given by the equation TR(q) = √√4q²-0.25q5. a) Find the equation of the inverse demand function p(q) and find its domain. b) Use the result from a) to find an explicit function equation for the demand function q (p) and find its domain and range. The cost function C for this good in terms of the produced amount can be described by the equation C(q) = 6q+8 9+8' c) For which amounts of q will the company make a profit? To this end, solve a proper inequality. You may use the graphical calculator to find zeros of a function if needed.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter3: Functions

Section3.2: Domain And Range

Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...

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