Describe at least four characteristics of a good business

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Q. Describe at least four characteristics of a good business.Identify and talk about at least four companies that you regard as having the characteristics.

Q. Elasticity:
The demand curve is Qd = 500 -2Px

a: What is the intercept value on the Price axis?
b: At what value does the curve cross the Quantity axis?
c: What is the Total Revenue function?

hint: TR = Price X Quantity. The given demand curve gives you an equation for Quantity. Use it to find an equation for Price.

c: If the marginal revenue function is MR = 250-Q, then what are the Price and Quantity values at Equilibrium?

Reference no: EM1358979

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