February 2016
Beginner to intermediate
500 pages
33h 40m
English
All exercises are available on MyEconLab; [&\*|=|answer at the&] back of this book; C[&~bf~|=|~normal~use~norm~&] of calculus may be necessary.
1.1 If the inverse demand function is [&p|=|300|-|3Q,&] what is the marginal revenue function? Draw the demand and marginal revenue curves. At what quantities do the demand and marginal revenue curves hit the quantity axis? (Hint: See Q&A 9.1.)
1.2 If the inverse demand function a monopoly faces is [&p|=|10Q^{|-|0.5},&] what is the firm’s marginal revenue function? C (Hint: See Q&A 9.1.)
*1.3 If the inverse demand function is [&p|=|500|-|10Q,&] what is the elasticity of demand ...