suppose x=9000-30p and Tc =90000+30x then find?

1. marginal revenue and Average revenue
2. total revenue function
3. marginal coast
4. total profit

Don't know

Did you know?

"Did you know that in economics, various formulas are utilized to analyze revenue and costs? Suppose we have a scenario where x represents the quantity of a particular good or service. If x is equal to 9000 minus 30 times the price (p), we can determine multiple factors: 1. Marginal revenue refers to the additional revenue from selling one more unit of the good or service. Average revenue is the total revenue divided by the quantity sold. By substituting the x value in the equation 9000 - 30p into the marginal revenue and average revenue formulas, we can calculate these values. 2. The total revenue function reveals the overall revenue obtained from selling a specific quantity of the good or service. To compute the total revenue function, we replace the x variable in the equation Tc = 90000 + 30x with the x value mentioned earlier. 3. Marginal cost represents the increase in cost due to producing an additional unit of the good or service. Unfortunately, the given text does not provide information on cost, so the marginal cost cannot be determined without additional data. 4. Total profit is the difference between total revenue and total cost. Without the cost information, we are unable to calculate the total profit associated with the given scenario. Understanding these different economic measures enables businesses to make informed decisions and assess their financial performance!"