Question: ch 1 1 # 3 : Please answer A - C clearly and give all 6 answers for a thumbs up . Aruna owns Pottery
ch #: Please answer AC clearly and give all answers for a thumbs up Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. A A If the firm wishes to maximize its total revenue, at what price should it sell its pots? A What is its total revenue? $
B Suppose that the firm were to increase its price by $ from the price in a BWhat will be the change in its total revenue?
Note: Give your answer as an absolute number.
B What is the coefficient for the price elasticity of demand between those two prices?
Note: Round your price answer to two decimal places.
C Suppose that the firm were to decrease its price by $ from the price in CWhat will be the change in its total revenue?
Note: Give your answer as an absolute number.
CWhat is the coefficient for price elasticity of demand between those two prices?
Note: Round your price answer to two decimal places.
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