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Suppose a linear demand curve is given by the formulaQ = 400 - 10 P The price elasticity of demand at P=30 is___. The price
Suppose a linear demand curve is given by the formulaQ = 400 - 10 P
The price elasticity of demand at P=30 is___. The price elasticity of demand at Q=400 is.
At Q =___, the price elasticity of demand is -1.
If the price increases from 22 to 23, the total revenue of the seller___.
Instruction: If the total revenue remains the same write 0. If the total revenue decreases, write 1. If the total revenue increases, write 2.
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