Illustrate what is the point elasticity at a price

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Reference no: EM13114289

The demand curve for product X is given as Q= 2000-20P.

a) How many units will be sold at $10?

b) At what price would 2,000 units would be sold? 0 units? 1,500?

c) Write equations for total revenue and marginal revenue (in terms of Q)

d) What will be the total revenue at a price of $70? What will be the marginal revenue?

e) What is the point elasticity at a price of $70?

Reference no: EM13114289

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