Question: A rm producing tin cans faces the following demand curve: q = 16 0.51) (a) Find the inverse demand curve (b) Calculate the total revenue

A rm producing tin cans faces the following demand curve: q = 16 0.51) (a) Find the inverse demand curve (b) Calculate the total revenue and plot the curve over values of q = 0, q = 8 and q = 16 (c) Derive the marginal revenue curve and calculate the marginal revenue for q = 3, q = 5 and q = 10 (d) Find the price elasticity of demand when p = 2, p = 10 and p = 20 (e) If the supply function is given by q = 51) + 50\\/f), nd the elasticity of supply when p = 9 and p = 100

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