Explore BrainMass

Explore BrainMass

    Solving total revenue cost function and linear equation

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1. Assume that the cost function of a firm is given by the relationship...
    2. Decker is a maker of small kitchen appliances. Its economists estimated the following demand for toaster oven using data gathered over 16 quarters from 10 major retail distributors of its product. This type of sample which involves the use of cross-sectional and time series data is referred to as a pooled sample. On the basis of this pooled sample of 160 observations, the economist estimated the following linear equation. (See the attached file)

    I'm having trouble solving the 2 problems in the attached document. The first problem is to derive TR as a function of Q and the second problem is solving a linear equation.

    © BrainMass Inc. brainmass.com October 10, 2019, 12:30 am ad1c9bdddf


    Solution Summary

    A complete, neat and step-by-step solution is provided in the attached file.