(Answered) Qd 500 - 2p where qd is quantity demanded and p is price a

Management Studies

QD = 500 - 2P, where QD is quantity demanded and P is price. a. Find the (QD, P) pair at which the point price elasticity of demand, , is equal to -1. What is the value of total revenue at this point? b. Where does this (QD, P) pair from part (a) sit on the demand curve? Sketch the demand curve and label the point from part (a)

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