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suppose the demand for widgets is given by the equation Q=1602P.
A) calculate the elasticity of demand at the price $30
B) is the demand curve elastic or inelastic at that price?
C) will an increase in widget production increase total revenue, decrease total revenue, or not change total revenue?
 2 years ago
 2 years ago
suppose the demand for widgets is given by the equation Q=1602P. A) calculate the elasticity of demand at the price $30 B) is the demand curve elastic or inelastic at that price? C) will an increase in widget production increase total revenue, decrease total revenue, or not change total revenue?
 2 years ago
 2 years ago

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TuringTestBest ResponseYou've already chosen the best response.0
A)plug in P=30 into your equation, see what you get for Q
 2 years ago
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