The demand curve is given by QD = 500 2PX Complete Solution

Question: #378

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.

Solution: #395

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

The demand curve is given by QD = 500 - 2PX
a. What is the total revenue f...