What point is revenue maximized and equilibrium price

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Reference no: EM131073896

The demand for candy bars is given by P = 5 - 0.01Q, where P is measured in dollars and Q in candy bars.

a. How much revenue is collected at $3?

b. What is the elasticity of demand at $3?

c. At what point is revenue maximized?

d. If the supply curve is given by Q = 10P, what is the equilibrium price?

Reference no: EM131073896

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