Answer to Question #142342 in Finance for Mr. Dinesh Pal Singh

Question #142342
35. Demand for a managerial economics text is given by Q = 20,000 – 300P. The book is initially priced at $30:
i) Compute the point price elasticity of demand at P= $30.
ii) If the objective is to increase total revenue, should the price be increased or decreased? Explain.
iii) Compute the arc price elasticity for a price decrease from $30 to $20.
iv) Compute the arc price elasticity for a price decrease from $20 to $15.
1
Expert's answer
2020-11-04T01:46:15-0500
Dear Mr. Dinesh Pal Singh, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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