(b) Find the point at which the demand is of unitary elasticity. q = 187.5 Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.) inelastic q<187.5 q > 187.5 elastic (c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.) increasing decreasing Use information about elasticity in part (b) to decide where the revenue is maximized. q =
(b) Find the point at which the demand is of unitary elasticity. q = 187.5 Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.) inelastic q<187.5 q > 187.5 elastic (c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.) increasing decreasing Use information about elasticity in part (b) to decide where the revenue is maximized. q =
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 6E
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