Question
The Dolan Corporation, a maker of small engines, determines that in 2012 the demand curve is: p=2000-50Q where P is the price (in dollars) of
The Dolan Corporation, a maker of small engines, determines that in 2012 the demand curve is: p=2000-50Q
where P is the price (in dollars) of an engine and Q is the number of engines sold per month.
a. to sell 20 engines per month, what price would Dolan have to charge?
b. If managers set a price of $500, how many engines will Dolan sell per month?
c. What is the price elasticity of demand if price equals $500?
d. At what price, if any, will the demand for Dolan's engines be of unitary elasticity?
Specifically, I need help with D, can you handwrite your work?
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