a. What happens to total revenue if the price falls from $400 to $350 a chip and
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b. At what price is total revenue at a maximum?
The demand schedule for computer chips is
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Quantity demanded Price (dollars per chip 200 250 300 350 400 millions of chips per year) 50 45 40 35 30
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a When the price of a chip is 400 30 million chips are sold and total revenue equals 12000 million W...View the full answer
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