Solution-Consistent with the inverse elasticity rule

Consistent with the inverse elasticity rule

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A firm produces high quality light bulbs for sale in two countries. The cost function for total bulb production is TC = 0.25q^2. The light bulbs are demanded in country X, where demand is given as q=100-p and in country Z where the demand is given as q= 120-2p. How many bulbs will this firm sell in each location and what price will it charge? Is this consistent with the inverse elasticity rule? Explain.

Reference no: EM131502371

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Consistent with the inverse elasticity rule : How many bulbs will this firm sell in each location and what price will it charge? Is this consistent with the inverse elasticity rule? Explain.

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Consistent with the inverse elasticity rule

Reference no: EM131502371

Reference no: EM131502371

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