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BrightLight Ltd. estimates the demand curve for its table lamps to be Q = 1,000 - 4P. That is, P = 250- .25Q. Which of
BrightLight Ltd. estimates the demand curve for its table lamps to be Q = 1,000 - 4P. That is, P = 250- .25Q. Which of the following is NOT true? A) The marginal revenue curve for BrightLight's table lamps is given by MR = 250 - P. B) The elasticity of demand for BrightLight's table lamps is equal to 7.5 when their price is $125. C) BrightLight maximizes its total revenues when selling 500 lamps. D) The maximum total revenue BrightLight can obtain is $62,500
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