Intercept value on the price axis, Microeconomics

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Intercept value on the price axis

Elasticity:

The demand curve is Qd = 500 -2Px

a: What is the intercept value on the Price axis?

b: At what value does the curve cross the Quantity axis?

c: What is the Total Revenue function?

hint: TR = Price X Quantity. The given demand curve gives you an equation for Quantity. Use it to find an equation for Price.

c: If the marginal revenue function is MR = 250-Q, then what are the Price and Quantity values at Equilibrium?

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Microeconomics: Intercept value on the price axis

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Microeconomics: Intercept value on the price axis

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Microeconomics: Intercept value on the price axis

Reference No:- TGS065514

Recent Questions Asked Microeconomics

Q : Net income from sole proprietorship

Q : Statement about national income accounts

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Q : What are the total fixed costs

Q : Federal budget deficit

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