What is the price elasticity of demand

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Reference no: EM13743139

Suppose the Demand for baseballs is given by Q = 240 – 8P.

a) What is the price elasticity of demand when P = 6?

b) At what price will Total Revenue be maximized?

c) What is the firm’s Marginal Revenue when the price is $5?

Reference no: EM13743139

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