1. The relationship d = 5000 - 25p describes what happens to demand (d) as price (p)...

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1. The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. Here, price can vary between PhP10 and Php50.

a. How many units can be sold at the PhP10 price? How many many can be sold at the PhP50 price?

b. Write the mathematical model for total revenue (R).

c. Consider prices PhP20, PhP30 and PhP40. Which of these three price alternative will maximize total revenue? What are the value for demand and revenue for this price?

Related Book For answer-question

Managerial Economics

ISBN: 978-0133020267

7th edition

Authors: Paul Keat, Philip K Young, Steve Erfle

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Posted Date: Mar 30, 2024 06:06 PM

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1. The relationship d = 5000 - 25p describes what happens to demand (d) as price (p)...

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Managerial Economics

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