The johnson robot companys marketing officials report to, Ask an Expert

Economics

The Johnson Robot Company's marketing officials report to the company's CEO that the demand curve for the company's robots in 2001 is

P = 3,000- 40Q

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

a. What is the marginal revenue equation for the firm?

b. At what prices is 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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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91233450

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