What is the price level that will maximize the total revenue


Problem

Suppose the market demand curve is P = 100 - 2Q. What is the price level that will maximize the total revenue, and what is the absolute value of the (point) price elasticity of demand at that point?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: What is the price level that will maximize the total revenue
Reference No:- TGS03334045

Expected delivery within 24 Hours