Calculate point elasticity of firm-s total sales revenue


Consider the firm with a single factor of production defined implicitly by the relation,
z = q3 + 4q
where z is the variable input and q is output. The firm faces the following average revenue function:
p = 10 - 2q,
Calculate the point elasticity of the firm's total sales revenue with respect to the amount of labour used when q = 2.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Calculate point elasticity of firm-s total sales revenue
Reference No:- TGS046337

Expected delivery within 24 Hours