Q=50-0.5 and tc = 50-40 q

To find the value of q in the equation tc = 50 - 40q, we can substitute the given value of Q into the equation and solve for q.

Given: Q = 50 - 0.5

Substituting Q into the equation:
tc = 50 - 40q
tc = 50 - 40(50 - 0.5)

Now, simplify the equation:
tc = 50 - 40(49.5)
tc = 50 - 1980

Solving further:
tc = -1930

Therefore, the solution for q is -1930.

Did you know?

Did you know that the equation Q = 50 - 0.5 represents a linear demand function, where Q represents the quantity of a product demanded and 0.5 represents the slope of the demand curve? This equation implies that for every unit increase in price, the quantity demanded decreases by 0.5 units. Additionally, the equation tc = 50 - 40q signifies a linear total cost function, where tc represents the total cost and q represents the quantity produced. This equation indicates that the total cost decreases by 40 units for every unit increase in quantity produced. Understanding these equations helps economists analyze the relationship between price, quantity demanded, and total cost, providing valuable insights into supply and demand dynamics and production costs.