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The demand curve is given by QD 500 2PX a The demand curve is given by QD 500 – 2PX a. What is the total revenue function The marginal revenue function is MR 250 Graph the total

The demand curve is given by QD 500 2PX a


The demand curve is given by

QD = 500 – 2PX

a. What is the total revenue function?

b. The marginal revenue function is MR = 250 – Q. Graph the total revenue function, the demand curve, and the marginal revenue function.

c. At what price is revenue maximized, and what is revenue at that point?

d. Identify the elastic and inelastic regions of the demand curve.

Mar 29 2020 Read more Less More

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