WebJan 16, 2024 · The price, p, and the quantity, x, sold of a certain product obey the demand equation x=-10p+320. What quantity maximizes revenue? The answer should be 160, ... Engineering economy total cost. 1. How to construct a linear demand equation? and obtain the weekly revenue. 0. Web22. Use: SELECT oi.orderid, SUM (oi.quantity * p.price) AS grand_total, FROM ORDERITEM oi JOIN PRODUCT p ON p.id = oi.productid WHERE oi.orderid = @OrderId GROUP BY oi.orderid. Mind that if either oi.quantity or p.price is null, the SUM will return NULL. Share.
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WebTopic 3: Cost of production To maximize profits Profit = total revenue – total costs Total revenue = price x quantity Economist costs = Explicit costs + Implicit costs – Opportunity … WebTotal revenue equals _____ x _____. A) average revenue, quantity B) price, quantity C) demand, marginal revenue multiple answers possible This problem has been solved! how to make the volume keys work
Total Revenue - Intelligent Economist
WebThe inverse demand function can be used to derive the total and marginal revenue functions. Total revenue equals price, P, times quantity, Q, or TR = PQ. Multiply the inverse demand function by Q to derive the total revenue function: TR = (120 - . 5Q) Q = 120Q - 0.5Q. Webthe increase in total cost that arises from an extra unit of production. ATC equation. average total cost equals the total cost divided by quantity. Marginal cost equation. change in … WebMar 24, 2024 · Use the optimal sales value in the original price formula to find the optimal sales price. For this example, this works as follows: 6. Combine the maximum sales and optimal price to find maximum revenue. Using the relationship that revenue equals price times quantity, you can find the maximum revenue as follows: 7. mucke melder lounge chrome chair