Managerial economics 6th ed ch 3 problem 2q the johnson, Ask an Expert

Economics

Managerial Economics 6th ed. Ch. 3 Problem 2.

Q. The Johnson Robot Company's marketing officials report to the company chief executive officer that the demand curve forth company’s robots in 2004 is

P= 3,000 -40Q

Where P is the price of a root and Q is the number sold per month.

a. Derive the marginal revenue curve for the firm.

b. At what prices is the demand for the firm's product price elastic?

c. If the firm wants to maximize its dollar sales volume, what price should it charge?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91422382

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