Question
The demand for a commodity of a company is given by the demand function: [3+2+1] p...
The demand for a commodity of a company is given by the demand function: [3+2+1] p = (60 − q 10) 2 a) Find the elasticity of demand E(p). [3 marks] b) What price results in the maximum revenue? [2 marks] c) What is the maximum revenue? [1 mark]
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