The marginal revenue schedules of the ice cream parlor

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Reference no: EM131244624

For the demand function for ice cream given in Problem 4,

(a) construct a table similar to Table 4-2 in the text, showing the quantity demanded, the toal revenue, and the marginal revenue schedules of the Ice Cream Parlor.

(b) Plot the demandm the total revenue, and the marginal revenue schedules for part (a) in a figure similar to Figure 4-5 in the text and indicate on it the range over which demand is elastic, inelastic, and unitary elastic.

Table 4-2 on page 135.

Figure 4-5 on page 136.

Reference no: EM131244624

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