Question
1 What does a marginal revenue equal when the firm's price equals 21 and the price elasticity of demand equals -6? 2 What does a
1 What does a marginal revenue equal when the firm's price equals 21 and the price elasticity of demand equals -6?
2 What does a marginal revenue equal when the firm's price equals 13 and the price elasticity of demand equals -1/3?
3 Consider the following linear demand curve: Qd= 44 -2P. What does the absolute value of the price elasticity equal if P =13?
4 Consider the following linear demand curve: Qd= 56 -3P. What does the absolute value of the price elasticity equal if P =13?
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International Business
Authors: John Daniels, Lee Radebaugh, Daniel Sullivan
15th edition
133457230, 978-0133457230
