Illustrate equations for total income also marginal income

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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. 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?

 

Reference no: EM1327702

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