Consider the demand curve Q = 100 - 50P. a. Draw the demand curve and indicate which
Question:
a. Draw the demand curve and indicate which portion of the curve is elastic, which portion is inelastic, and which portion is unit elastic.
b. Without doing any additional calculation, state at which point of the curve expenditures on the goods are maximized, and then explain the logic behind your answer.
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a b At 1 50 total revenue is maximized since this is ...View the full answer
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