8. Express changes in price and quantities in percentage terms using elasticities. Let eD = dP P <0, es ds p > 0, and

8. Express changes in price and quantities in percentage terms using elasticities. Let eD = dP P 0, and T = t/p (like an ad valorem tax). dp Q dp Q 9. A monopolist who employs m workers finds that they produce q = 2m(2m+1)3/2 units of product per day. The total revenue r (in pesos) is given by r = What is the price per 50q 1000+3q unit when there are 12 workers? Determine the marginal revenue when there are 12 workers?