Answer:
Profit = [(2000 - 200p) * ( 2000 - v ) / 200 ] ] - $501
Explanation:
Demand ( V ) = 2000 - 200p
Price ( P ) = ( 2000 - v ) / 200
fixed cost = $500
variable cost = $1
The expression for total profit
Profit = Total sale - cost
cost = $500 + $1 = $501
Total sale = (2000 - 200p) * [ ( 2000 - v ) / 200 ]
Profit = [(2000 - 200p) * ( 2000 - v ) / 200 ] ] - $501
The expression for the total profit would be:
[tex][(2000 - 200p)[/tex] × [tex](2000 - v )[/tex] ÷ [tex]200 ] - $501[/tex]
Given that,
Demand(V) = [tex]2000 - 200p[/tex]
Price (P) = [tex][(2000 - v )[/tex] ÷ [tex]200}[/tex]]
Also,
Fixed Cost(FC) [tex]=[/tex] $[tex]500[/tex]
Variable Cost(VC) [tex]=[/tex] $[tex]1[/tex]
To find,
The expression for the total profit [tex]=[/tex]Total sales - Total Cost
We will determine the total cost first,
Total cost = $[tex]500 +[/tex] $[tex]1[/tex]
= $[tex]501[/tex]
Total sales [tex]= (2000 - 200p)[/tex] × [tex][ ( 2000 - v ) / 200 ][/tex]
∵
Total Profit = [tex][(2000 - 200p)[/tex] × [tex](2000 - v )[/tex] ÷ [tex]200 ] - $501[/tex]
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