The johnson robot companyrsquos marketing managers estimate, Ask an Expert

Economics

The Johnson Robot Company’s marketing managers estimate that the demand cure or the company’s robots in 2012 is

P = 3,000 – 40Q

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

Derive the marginal revenue curve for the firm.

At what prices is the demand for the firm’s product price elastic?

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

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224976

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