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Ques. (a) Find the marginal revenue of a firm that sells a product at the price of Rs. 10 and the price elasticity of the

Ques. (a) Find the marginal revenue of a firm that sells a product at the price of Rs. 10 and the price elasticity of the demand for the product it sells is (-)2.

(b) Find the price elasticity of demand of another firm that sells a product at P = Rs 16 and MR = Rs. 12.

(c) What would be the marginal cost of the firm is in part b.

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