Assuming the inverse demand function for good Z can be written as P = 90 - 3Q, the corresponding total revenue function is: A) 6Q. B) 90 - 6Q. C) 90 - 3Q. D) 90Q - 3Q².

Question

Quizplus · Accepted Answer

The total revenue function is found by multiplying the price (P) by the quantity (Q). Given the inverse demand function P = 90 - 3Q, the total revenue (TR) is TR = P * Q = (90 - 3Q) * Q = 90Q - 3Q^2.

Assuming the Inverse Demand Function for Good Z Can Be