Here is a linear demand function: Q = 10 -0.5P. Find its price function by inverting the demand function. Then find its total revenue function by multiplying through by Q. The linear demand function Q = 400 -250P inverts into the price function P = 1.6 -0.004Q. Multiplying this by Q gives its total revenue function TR = 1.6Q -0.004. Evaluate the following expression. Y = 5(2X + 3)2 -2X2

Explanation:

Price function can be estimated by inverting the demand function.

This is the price function.

Total revenue function can be estimated using the given formula,

The linear demand function is given by,

Price function is given by,

Total revenue function is thus given by,

The derivative of Y with respect to x is,

Equating this equal to 0 we get,

disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

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