The demand curve for product X is given as Q= 2000-20P.
a) How many units will be sold at $10?
b) At what price would 2,000 units would be sold? 0 units? 1,500?
c) Write equations for total revenue and marginal revenue (in terms of Q)
d) What will be the total revenue at a price of $70? What will be the marginal revenue?
e) What is the point elasticity at a price of $70?