question archive Maximize total revenue, from price, quantity, price elasticity, direct demand function and indirect demand function
Subject:EconomicsPrice:2.88 Bought3
Maximize total revenue, from price, quantity, price elasticity, direct demand function and indirect demand function. Use the indirect demand function to determine TR and MR as a function of Q.
Indirect demand function: P=8.85-0.004(Q)
Direct Demand: Q=2509.5-283.4(P)
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