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Suppose the demand for tickets for a concert is given by Q = 240 - 4P. The venue manager wants to charge a price that
- Suppose the demand for tickets for a concert is given by Q = 240 - 4P. The venue manager wants to charge a price that will maximise revenues (i.e. the price where elasticity is equal to - 1). There are no capacity constraints on the venue. The price she should charge is
- A.50
- B.40
- C.30
- D.20
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Intermediate Microeconomics and Its Application
Authors: Walter Nicholson, Christopher M. Snyder
12th edition
978-1133189022, 1133189024, 1133189032, 978-1305176386, 1305176383, 978-0357687000, 978-1133189039
