Question: A product sells according to the demand function g = 20 p2. Find the price elasticity of demand when the selling price is $2 and

$2 and decide if price must increase or decrease to increase revenue.

Ans: The price elasticity of demand is [56'8"] V when the price

is 32. To increase revenue, the price must [59'3"] V . A

A product sells according to the demand function g = 20 p2. Find the price elasticity of demand when the selling price is $2 and decide if price must increase or decrease to increase revenue. Ans: The price elasticity of demand is [56'8"] V when the price is 32. To increase revenue, the price must [59'3"] V . A product sells according to the demand function q = 20 - p. Find the price elasticity of demand when the selling price is $2 and decide if price must increase or decrease to increase revenue. Ans: The price elasticity of demand is [ Select ] when the price is $2. To [ Select ] increase revenue, the price must [ Se 0.125 16 0.5 0.25A product sells according to the demand function g = 20 102. Find the price elasticity of demand when the selling price is $2 and decide if price must increase or decrease to increase revenue. Ans: The price elasticity of demand is [53'3"] V when the price is 32. To increase revenue, the price must [59'6"] V

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