The Hayward Cool Robots marketing managers estimate that the demand curve for the company’s robots in 2018 is
Q = 4,000 - 2 P
where P is the price of a robot and Q is the number sold per month.
a. If the firm wants to maximize its dollar sales volume, what price should it charge?
b. Derive the marginal revenue curve for the fi rm.
c. At what prices is the demand for the fi rm’s product price elastic?
Answers: 2
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The Hayward Cool Robots marketing managers estimate that the demand curve for the company’s robots i...
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