elasticity and marginal revenue
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Here is some data on teh demand for marshmallows
price quantity
$10 1100
8 1300
6 1700
4 2300
2 3100
is demand elastic or inelastic in the $ 6 - 8 price range? how do you k now?
if hte table represents the demand faced by a monopoly firm then what is that firms marginal revenues as it increases output from 1700 units to 2300 units.
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Solution Summary
The marginal revenue when the output is explained.
Education
- MBA, Indian Institute of Finance
- Bsc, Madras University
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