What might the variable Q be if this is a formula for Total
What might the variable “Q” be if this is a formula for “Total Revenues”? What might we call the algebraic coefficient “4.3“ practically given the “Q” and the left side “Total Revenues”?
Solution
In the function of TR, Q represents the total quantity.
The coefficient will be change in TR as we change i.e, increase of decrease quantity by one unit.
