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{"ops":[{"insert":". The demand for its new brand of fertilizer, Meadow Muffins, is given by the equation Q = 120 - 4P."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"a. Silkwood is currently charging $10 for a pound of Meadow Muffins. At this price, what is the price elasticity of demand for Meadow Muffins?"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"b. At a price of $10, what is Silkwood\u2019s marginal revenue?"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"c. What price should Silkwood charge if it wishes to maximize its total revenue?"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"d. At the total revenue maximizing price, what is the price elasticity of demand for Meadow Muffins?"},{"insert":"\n"}]}

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