g) Estimate sin29^circ by linear approximation (3 Marks) h) A monopolist faces the demand function given by x=10-0.5p

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Answer 1

g) To estimate

using linear approximation, we can use the formula for linear approximation:

where

is a value close to

for which we know the sine and cosine values. A common choice is

, since

is a well-known angle with known sine and cosine values.

and

Now, we can substitute these values into the linear approximation formula:

Using a calculator, we can evaluate this expression:

Therefore, the estimated value of

using linear approximation is approximately

.h) To find the revenue function for the monopolist, we need to first find the price function

using the given demand function

.Rearranging the demand function, we have:

Now, we can find the revenue function

by multiplying the price function

by the quantity

:

Substituting the price function, we have:

Simplifying, we get:

Therefore, the revenue function for the monopolist is

.

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