Suppose the demand for baseballs is given by q 240 ndash


Suppose the Demand for baseballs is given by Q = 240 – 8P.

a) What is the price elasticity of demand when P = 6?

b) At what price will Total Revenue be maximized?

c) What is the firm’s Marginal Revenue when the price is $5?

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Microeconomics: Suppose the demand for baseballs is given by q 240 ndash
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