Question the demand for boobles can be written as q 11000, Ask an Expert

Economics

Question: The demand for boobles can be written as: Q = 11,000 - 8P.

1. Calculate the price, quantity, total revenue and marginal revenue when the elasticity of demand = -2.2.

2. Calculate the price, quantity, total revenue and elasticity of demand when MR = $60.

3. Calculate the price and quantity at which total revenue is a maximum. What is maximum revenue?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92584828

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