Explore BrainMass

Elasticity and marginal revenue

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

Elasticity and marginal revenue

here is some data on the demand for marshmallows

price quantity
$10 100
8 300
6 700
4 1300
2 2200

is demand elastic or inelastic in the $ 4 - $6 price range? how do you k now?

if the table represents the demand faced by a monopoly firm then what is that firms marginal revenues as it increases output from 100 units to 300 units.
Show all work.

© BrainMass Inc. brainmass.com March 21, 2019, 9:09 pm ad1c9bdddf

Solution Summary

A Complete, Neat and Step-by-step Solution is provided in the attached file.