Alexander Machine Tool faces the demand curve: P = $70 0.001Q. What price and quantity maximize

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Alexander Machine Tool faces the demand curve: P = $70 – 0.001Q. What price and quantity maximize total revenue? What is the price elasticity at this point?

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Managerial Economics and Organizational Architecture

ISBN: 978-0073375823

5th edition

Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr

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Question Posted: Apr 11, 2018 02:39 AM

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Alexander Machine Tool faces the demand curve: P = $70 0.001Q. What price and quantity maximize

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Total revenue is maximized at the midpoin...View the full answer

Managerial Economics and Organizational Architecture

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