Answer to Question #142344 in Finance for Mr. Dinesh Pal Singh

Question

33. The demand equation faced by DuMont Electronics for its personal computers is given by P == 10,000 – 4Q.
(a) Write the marginal revenue equation.
(b) At what price and quantity will marginal revenue be zero?
(c) At what price and quantity will total revenue be maximized?
(d) If price is increased from $6,000 to $7,000, what will be the effect on total revenue? What does this imply about price elasticity?

Answer 1

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