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(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.(ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of demand when P = 10.(iii) If supply is related to the price the function P = 0.25Q + 10, find the price elasticity of supply when P = 20.(iv) Given the demand function aQ + bP - k = 0, where a, b and k are positive constants, show that price elasticity of demand is minus one when MR = 0.(v) when the demand is P = 20/(4 +Q), calculate the price elasticity of demand when P = 4.
introduction of production
two countries workland and playland have similar population and identical production possibilities curves but diffrefences . the procuction possibilities combination are as follows
Which of the following is evidence of market power? a. Output is fixed despite cost changes b. Optimal Output is less than industry output c. Output changes as cost changes
what are monetry accounts?
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
if sabela can afford 4 trousers and 4 pairs of shoes.she could also use her entire budget to buy 8 trousers and 2 pairs of shoes.if the price of a trouser is 500 birr,how much is s
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
The owner of a firm Mr. Rajneesh expects to make a profit of Rs.5,50,000, Rs.6,50,000, Rs.7,50,000 and Rs.8,50,000 at the end of the 1st, 2nd, 3rd and 4th year respectively. Rajne
who is a rational behaviour
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