What price should the firm charge

Reference no: EM13488684

Please include step by step instructions:

Qd = 450 - 5P where Qd is the quantity demanded of footballs and P is the price of footballs.

If the price of footballs is $9, what will be the total revenue collected from the sale of footballs? I got 3645 for this.

What is the Price Elasticity of Demand for footballs between the prices of $5 and $6 (please give your answer in the form of a fraction)?

What is the price elasticity of demand at a price of $24?

If the price of baseballs is $24, should the firm raise or lower their price if they want to increase their total revenue.

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

Reference no: EM13488684

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