1. Given the demand function Qd = -3P +40 and the supply function Qs = 4P,...

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1. Given the demand function Qd = -3P +40 and the supply function Qs = 4P,...

1. Given the demand function Qd = -3P +40 and the supply function Qs = 4P, mathematically determine the amount of total revenue this firm will make when it sells it’s good at market price.

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Answer 1

Answer #1

3d - -3P +40 4P At a libm d-s 3P 40 4 P 7 P 40 P S 7 2 4 (S.72) = 22 8 8 TR - - (s.72) (22 88 130. 87

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Answer 2

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