The Dolan Corporation, a maker of small engines, determines that in 2012 the demand curve for its product is P = 2,000 - 50Q where P is the price (in dollars) of an engine and Q is the number of engines sold per month.   a. To sell 20 engines per month, what price would Dolan have to charge? b. If managers set a price of $500, how many engines will Dolan sell per month? c. What is the price elasticity of demand if price equals $500? d. At what price, if any, will the demand for Dolan’s engines be of unitary elasticity?       Only typed answer and don't use chat gpt

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter13: Monopoly And Antitrust
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The Dolan Corporation, a maker of small engines, determines that in 2012 the

demand curve for its product is P = 2,000 - 50Q

where P is the price (in dollars) of an engine and Q is the number of engines sold per month.

 

a. To sell 20 engines per month, what price would Dolan have to charge?

b. If managers set a price of $500, how many engines will Dolan sell per month?

c. What is the price elasticity of demand if price equals $500?

d. At what price, if any, will the demand for Dolan’s engines be of unitary

elasticity?

 

 

 

Only typed answer and don't use chat gpt 

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