42. Suppose your firm faces a demand curve of P = 90 0.30Q. Find the revenue...
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4–2. Suppose your firm faces a demand curve of P = 90 − 0.30Q. Find the revenue maximizing output and price. Calculate the total revenue. Is this outcome on the elastic, inelastic, or unitary elastic part of the demand curve? Is this price the optimal price for your firm to charge? Display this choice graphically (showing the demand and marginal revenue curves).
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Managerial Economics And Organizational Architecture
ISBN: 9781260571219
7th International Edition
Authors: Clifford W. Smith, Jerold Zimmerman, James Brickley
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