Question
The Johnson Robot Company's marketing managers estimate that the demand curve for the company's robots in 2012 is: P=3000-40Q where P is the price of
The Johnson Robot Company's marketing managers estimate that the demand curve for the company's robots in 2012 is: P=3000-40Q
where P is the price of a robot and Q is the number sold per month.
a. Derive the marginal revenue curve for the firm.
b. At what prices is the demand for the firm's product price elastic?
c. If the firm wants to maximize its dollar sales volume, what price should it charge?
Tutor, can you handwrite your work?
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc Melitz
11th Edition
134519574, 9780134521046 , 978-0134519579
