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. write 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?
a. When price is 10, Q = 2000-20X10 = 1800
b.When Q = 2000, when have 2000=2000-20P => P = 0
When Q = 0, 0 = ...
The expert examines the demand curve, revenue and elasticity is examined.
Elasticity of the Demand Curve
Please help with the following questions.
What can you say about the elasticity of the demand curve that faces the product (or service) produced by an organization? How much control might an organization have over pricing based on a product's elasticity? Recommend a pricing strategy to increase revenue.View Full Posting Details