Calculate the price and quantity

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Reference no: EM132133727

Question: The demand for boobles can be written as: Q = 11,000 - 8P.

1. Calculate the price, quantity, total revenue and marginal revenue when the elasticity of demand = -2.2.

2. Calculate the price, quantity, total revenue and elasticity of demand when MR = $60.

3. Calculate the price and quantity at which total revenue is a maximum. What is maximum revenue?

Reference no: EM132133727

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