Determine the reservation price and minimum selling price

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Reference no: EM132408690

Assume that inverse demand and supply are given by the following:

P=$1000-$5Qd and P=$250 +$2.5Qs

Determine the reservation price and minimum selling price

Algebraically, determine the equilibrium price and quantity for this market.

In excel, determine the relevant range for prices and (highlight this row(s) of data)

In excel, graph demand and supply to illustrate equilibrium (print this graph for uploading)

Using the demand information, write out the equation for total revenue and marginal revenue

In excel, create columns for total revenue and marginal revenue

Reference no: EM132408690

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