Demand for a product, Macroeconomics

1. Suppose the demand for a product is given by QD = 2000 - 25P.

a) Calculate the Price Elasticity of Demand when the price is $30.

b) What price should the firm charge if it wants to maximize its revenue?

c) Over what price range is demand elastic?

Posted Date: 2/5/2014 4:46:24 AM | Location : United States

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