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The demand curve is given by QD = 500 - 2PX




The demand curve is given by QD = 500 - 2PX;a. What is the total revenue function?;b. The marginal revenue function is MR = 250 ? Q.;Graph the total revenue function, the demand curve, and the marginal revenue function.;c. At what price is revenue maximized, and what is revenue at that point?;d. Identify the elastic and inelastic regions of the demand curve.;Please show work so that I can actually understand where the answers came from. Thank you


Paper#18173 | Written in 18-Jul-2015

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