1A)

A firm's Demand Function is Q = 100 - 2.5*Q. If the firm wishes to price in the elastic segment of the demand schedule, price must be more than. You can construct a spreadsheet to answer this question.

B)

The demand function for bicycles in Holland is Q = 2,000 -5.5*PRICE + 15*INCOME. If PRICE = 120 and INC = 20, what is the price elasticity of demand?

C)

A firm's Demand Function is Q = 100 - 2.5*Q. When the firm sets price to maximize total revenue (TR), then TR will be ______

D)

If the marginal revenue from a product is $20 and the price elasticity of demand is -2.0, what is the price?