Suppose the demand function for a commodity is given as Q = 12 P ( a)

Question:

Suppose the demand function for a commodity is given as Q = 12 – P

(

a) Find the demand and marginal revenue schedules,

(

b) Plot the AR and MR schedules,

(

c) Find marginal revenue when P = 10, 6 and 2, and

(

d) Estimate the elasticity co-efficient of the demand curve, when the total revenue is at the maximum.

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Managerial Economics

ISBN: 9789325986688

8th Edition

Authors: D N DWIVEDI

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Question Posted: Oct 07, 2024 04:01 AM

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Suppose the demand function for a commodity is given as Q = 12 P ( a)

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Managerial Economics

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