CALCULUS
azka_javeed
The Trusted Genuine Masters company produces forged paintings for sale at well-known auction houses. The company estimates that its demand equation is
q =−25p+5,000
paintings sold per month when priced at p Euros each. It has monthly fixed costs of €400 and variable costs of €10 per painting.
- Find the company's monthly revenue, cost, and profit as functions of p, the price per painting. (25 points)
- Draw the graphs of revenue and cost functions and determine the equilibrium price. How many paintings would be sold at the equilibrium
price? (25 points)
6 years ago
1
Answer(0)
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