Given demand function of the orange market P = 153 - 2Qp. You sell oranges at the price TK85. What is your total revenue from selling oranges that have been demanded? Calculate the total revenue. Give your answer in two decimal places.

Given demand function of the orange market P = 153 - 2Qp. You sell oranges at the price TK85. What is your total revenue from selling oranges that have been demanded? Calculate the total revenue. Give your answer in two decimal places.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 9SCQ: Suppose the cross-price elasticity of apples with respect to the price of oranges is 0.4, and the...

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Question

Given demand function of the orange market P =
153 - 2Qp. You sell oranges at the price TK85.
%3D
What is your total revenue from selling oranges that
have been demanded?
Calculate the total revenue.
Give your answer in two decimal places.

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