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1) In the class of 120 students, everybody would take 2 hamburgers if price were zero, and no one would buy hamburgers if te price were $4 or more.

Suppose that class's demand curve for hamburgers is linear, and give a suitable formula

(a) describeing quantity as a function of price

(b) describeing price as a function of quantity

(c) Total revenue is the function of quantity and can be find outd by R = price quantity. Determine the total revenue function corresponding to demand curve, and conclude that it is quadratic.

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  • Reference No.:- M914630

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