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Corresponding inverse residual demand function

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Reference no: EM133063137

1) Consider the residual demand function, q = 100 - 2p.

a) What is the corresponding inverse residual demand function?

b) Derive the Marginal Revenue function for this residual demand demand.

c) Draw the inverse demand curve and Marginal Revenue curve. (Label the value of the intercepts.)

d) Mark out the region of elastic, unit elastic and inelastic demand making sure the regions align with the correct regions of the Marginal Revenue curve.

Reference no: EM133063137

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