The weekly demand function for a particular product is q=f(p)=2400-15p. Where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is the function of p. What is the concavity of the function? What is q intercept? What does total revenue equal at a price of 60 dollars.

The weekly demand function for a particular product is q=f(p)=2400-15p. Where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is the function of p. What is the concavity of the function? What is q intercept? What does total revenue equal at a price of 60 dollars.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Elasticity

Section6.1: Elasticity: Part 1

Problem 4ST

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