In the demand functions Q1=f(P1 P2 ) and Q2=f(P1 P2 ) what does f(P1 P2 ) represent Question 1Select one:a.Demand functionb.Inverse functionc.Total Revenue functiond.Average Revenue function

If the revenue function for a particular commodity is R(p) = −51p2 + 65p, what is the (linear) demand function q(p)?q(p) = Give a reason for your answer.R = p + qR = qp    R = q − pR = pqR = pq

What does the demand function Qd = a - bP represent? Question 11Select one:a.The relationship between consumption and disposable incomeb.The relationship between quantity supplied and pricec.The relationship between investment and interest rated.The relationship between quantity demanded and price

The demand function Q and cost function C(Q) of a commodity are given by the equations \[Q=20-0.01P,\] and C(Q)=60+6Q, where P and Q are the price and quantity, respectively. The total revenue function (TR) in terms of P is

The demand function of a good is given byP = 140 − 35Qwhere P denotes the price and Q the quantity.(a) Write down the revenue R as a function of the quantity Q.(b) Find the quantity Q that maximizes the revenue and find the maximumrevenue

The demand function of a product for a manufacturer is 𝑝 (𝑥) = 𝑎𝑥 + 𝑏. The manufacturer knows that he can sell 1250 units when the price is GHS5 per unit and he can sell 1500 units at a price of GHS4 per unit. Find the total, and average revenue functions.