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Given the demand function D(p) = 375 - 4p, How many products will be sold if the price is $65? Find the Elasticity function
Given the demand function D(p) = 375 - 4p, How many products will be sold if the price is $65? Find the Elasticity function E(p) Find the Elasticity of Demand at a price of $65 - At this price, we would say the demand is: O Elastic O Inelastic O Unitary Based on this, to increase revenue we should: O Raise Prices O Lower Prices Keep Prices Unchanged What price will maximize revenue?
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
