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(4A) For the following demand function: P = 200 -40. (i) Find the price elasticity of demand, in terms of Q. 3 marks (ii) Using

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(4A) For the following demand function: P = 200 -40. (i) Find the price elasticity of demand, in terms of Q. 3 marks (ii) Using differentiation, find the expression for marginal revenue (MR) in terms of Q. Then, using the answer to (i), verify that MR = 0 when the demand is unit elastic, and that MR > 0 when the elasticity is bigger than one. 3 marks

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