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Question: For the demand schedule p = (60 - 0.1q)0.5:

(a) derive an expression for the slope of the demand schedule;

(b) demonstrate that this slope gets flatter as q increases from 0 to 600;

(c) find the output at which total revenue is a maximum.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92291069

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