Problem 4. The price is a function of demand given as p(q) = 2.5 In (300). Use the elasticity function to find the price for this product that generates the highest revenue.

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
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Problem 4. The price is a function of demand given as p(q) = 2.5 ln(300). Use the elasticity
function to find the price for this product that generates the highest revenue.
Transcribed Image Text:Problem 4. The price is a function of demand given as p(q) = 2.5 ln(300). Use the elasticity function to find the price for this product that generates the highest revenue.
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