Suppose demand takes the form Q = 36 P1. a. Show that the price elasticity of demand

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Suppose demand takes the form Q = 36 P–1.
a. Show that the price elasticity of demand is constant and equal to 21.
b. Write the total and marginal revenue functions.

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Managerial Economics Foundations of Business Analysis and Strategy

ISBN: 978-0078021718

11th edition

Authors: Christopher Thomas, S. Charles Maurice

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Question Posted: Nov 18, 2014 04:20 AM

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Suppose demand takes the form Q = 36 P1. a. Show that the price elasticity of demand

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Managerial Economics Foundations of Business Analysis and Strategy

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