Find answers to your most challenging questions with the help of IDNLearn.com's experts. Join our knowledgeable community and get detailed, reliable answers to all your questions.
Sagot :
To determine the missing values in the table, we need to understand the relationship between price, quantity demanded, and total revenue. Here's a step-by-step guide to fill in the table:
1. Columns Provided:
- Price (P): Given.
- Quantity Demanded (Q): Given.
- Total Revenue (TR): Some values are missing and need to be determined.
2. Total Revenue Calculation:
- Total Revenue (TR) = Price (P) × Quantity Demanded (Q)
Using the provided values, let's verify the calculations and fill in any missing values:
| Price (P) | Quantity Demanded (Q, Gallons) | Total Revenue (TR, Dollars) |
|-------|--------------------------|-----------------------------|
| 5.40 | 0 | 0 |
| 4.95 | 40 | 4.95 × 40 = 198.00 |
| 4.50 | 80 | 4.50 × 80 = 360.00 |
| 4.05 | 120 | 4.05 × 120 = 486.00 |
| 3.60 | 160 | 3.60 × 160 = 576.00 |
| 3.15 | 200 | 3.15 × 200 = 630.00 |
| 2.70 | 240 | 2.70 × 240 = 648.00 |
| 2.25 | 280 | 2.25 × 280 ≠ 530.00 (Check value)|
| 1.80 | 320 | 1.80 × 320 = 576.00 |
| 1.35 | 360 | 1.35 × 360 = 486.00 |
| 0.90 | 400 | 0.90 × 400 = 360.00 |
| 0.45 | 440 | 0.45 × 440 = 198.00 |
| 0.00 | 480 | 0.00 × 480 = 0 |
Notice there was an error in the table provided in the question for the total revenue at price 2.25. The correct value should be calculated using the formula:
[tex]\[ \text{Total Revenue} = 2.25 \times 280 = 630.00 \][/tex]
So the corrected table is:
| Price (P) | Quantity Demanded (Q, Gallons) | Total Revenue (TR, Dollars) |
|-------|--------------------------|---------------------------|
| 5.40 | 0 | 0 |
| 4.95 | 40 | 198.00 |
| 4.50 | 80 | 360.00 |
| 4.05 | 120 | 486.00 |
| 3.60 | 160 | 576.00 |
| 3.15 | 200 | 630.00 |
| 2.70 | 240 | 648.00 |
| 2.25 | 280 | 630.00 |
| 1.80 | 320 | 576.00 |
| 1.35 | 360 | 486.00 |
| 0.90 | 400 | 360.00 |
| 0.45 | 440 | 198.00 |
| 0.00 | 480 | 0 |
By understanding the total revenue formula and recalculating the required values, we have determined the correct total revenue amounts.
1. Columns Provided:
- Price (P): Given.
- Quantity Demanded (Q): Given.
- Total Revenue (TR): Some values are missing and need to be determined.
2. Total Revenue Calculation:
- Total Revenue (TR) = Price (P) × Quantity Demanded (Q)
Using the provided values, let's verify the calculations and fill in any missing values:
| Price (P) | Quantity Demanded (Q, Gallons) | Total Revenue (TR, Dollars) |
|-------|--------------------------|-----------------------------|
| 5.40 | 0 | 0 |
| 4.95 | 40 | 4.95 × 40 = 198.00 |
| 4.50 | 80 | 4.50 × 80 = 360.00 |
| 4.05 | 120 | 4.05 × 120 = 486.00 |
| 3.60 | 160 | 3.60 × 160 = 576.00 |
| 3.15 | 200 | 3.15 × 200 = 630.00 |
| 2.70 | 240 | 2.70 × 240 = 648.00 |
| 2.25 | 280 | 2.25 × 280 ≠ 530.00 (Check value)|
| 1.80 | 320 | 1.80 × 320 = 576.00 |
| 1.35 | 360 | 1.35 × 360 = 486.00 |
| 0.90 | 400 | 0.90 × 400 = 360.00 |
| 0.45 | 440 | 0.45 × 440 = 198.00 |
| 0.00 | 480 | 0.00 × 480 = 0 |
Notice there was an error in the table provided in the question for the total revenue at price 2.25. The correct value should be calculated using the formula:
[tex]\[ \text{Total Revenue} = 2.25 \times 280 = 630.00 \][/tex]
So the corrected table is:
| Price (P) | Quantity Demanded (Q, Gallons) | Total Revenue (TR, Dollars) |
|-------|--------------------------|---------------------------|
| 5.40 | 0 | 0 |
| 4.95 | 40 | 198.00 |
| 4.50 | 80 | 360.00 |
| 4.05 | 120 | 486.00 |
| 3.60 | 160 | 576.00 |
| 3.15 | 200 | 630.00 |
| 2.70 | 240 | 648.00 |
| 2.25 | 280 | 630.00 |
| 1.80 | 320 | 576.00 |
| 1.35 | 360 | 486.00 |
| 0.90 | 400 | 360.00 |
| 0.45 | 440 | 198.00 |
| 0.00 | 480 | 0 |
By understanding the total revenue formula and recalculating the required values, we have determined the correct total revenue amounts.
Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. IDNLearn.com is dedicated to providing accurate answers. Thank you for visiting, and see you next time for more solutions.
