Question
The demand curve is P= 100 (4/5) x Q. What price maximizes total revenues to the firms?
The demand curve is P= 100 – (4/5) x Q. What price maximizes total revenues to the firms?
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To maximize total revenue TR we need to find the price elasticity of demand PED and use its relation...Get Instant Access to Expert-Tailored Solutions
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Managerial Economics
Authors: Paul Keat, Philip K Young, Steve Erfle
7th edition
0133020266, 978-0133020267
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