Once I got the idea of how many 5000 we have in 80000 and the multiply by the change in the price, I realized that we just solve an equation with one unknown (which is a).

So why we do not just take the equation a= P + bQ and find easily the value of a?

Stylianos says

Hello Prof,

Once I got the idea of how many 5000 we have in 80000 and the multiply by the change in the price, I realized that we just solve an equation with one unknown (which is a).

So why we do not just take the equation a= P + bQ and find easily the value of a?

Thank you in advance.

John Moffat says

But that is exactly the same as what I am doing

(It does not matter how you get the figures as long as (obviously) you end up with the right figures)

Stylianos says

and one more thing. can we take as known the profit equation ? = TR-TC?

John Moffat says

Total profit is indeed total revenue less total costs.

(But I am not really sure what it is you are asking)

keyabolass says

GOOD LUCK”

John Moffat says

Good luck

tpw says

exam today