The demand curve for product a is given as Q = 2000 - 20 P.
a. How many units will be sold at $10?
b. At what price- would 2,000 units he sold? 0 units? 1,500?
c. Write equations for total revenue and marginal revenue (in terms of Q).
d. What will be the total revenue at a price of $70? What will be the marginal revenue?
e. What is the point elasticity at a price of S70?
f. If price were to decrease to $60, what would total revenue, marginal revenue, and point elasticity be now?
g. At what price would elasticity be unitary?