HW XBus Econ 4.2.27 The lotal revenue function for a certain product is given by

Question

HW XBus Econ 4.2.27 The lotal revenue function for a certain product is given by R 920x dolars, and the total cost function for this product is C 20,000202dollars, where x is the number of units of the a. Which function is quadratic, and which is linear? c, Is the profit function a linear function, a quadratic function, or neither of these? O A. The total cost function is quadratic and the total revenue function is linear O B. The total revenue function is quadratic and the total cost function is linear

Explanation / Answer

R = 920 x

C = 20,000 + 20x + x^2

a) cost function is quadratic and revenue function is linear

b) profit = revenue - cost

920 x - 20,000 - 20x - x^2

P = -x^2 + 900x - 20,000

c) profit function is quadratic function

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