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Types of Linear Programing Problems

A firm has th...

Question

A firm has the cost function $C = \frac{x^{3}}{3} - 7 x^{2} + 111 x + 50$ and demand function $x = 100 - p$ .
Write the total revenue function in terms of $x$

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Solution

Cost function is $C (x) = \frac{x^{3}}{3} - 7 x^{2} + 111 x + 50$
Demand function is $x = 100 - p \Rightarrow p = 100 - x$
Revenue function, $R (x) = p . x = x (100 - x) = 100 x - x^{2}$

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Similar questions

C = \frac{x^{3}}{3} - 7 x^{2} + 111 x + 50

x = 100 - p

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