Demand curve, revenue and elasticity
Demand curve product X is given as Q= 2000 - 20P.
a. how many units will be sold at price $ 10
B. at what price would 2000 units be sold? o units? 1500?.
c. prepare equations for total revenue and marginal revenue (interm of Q).
d. what will be the total revenue at price of $ 70? what will be marginal revenue?
e. what is the point elasticity at price odf $ 70?