1) We know that revenue is maximized when we choose the price where .pdf

alphawheels007
31. Mar 2023••

1) We know that revenue is maximized when we choose the price where .pdf

31. Mar 2023••
alphawheels007
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1) We know that revenue is maximized when we choose the price where our elasticity of demand is 1 (d = 1). Show graphically why this is the case. draw the rectangles under the demand curve and say something about the size of these rectangles. 2) How do we observe demand and supply shifts in data where we have in(cid:2)formation on only prices and quantities? provide a numerical example..

1) We know that revenue is maximized when we choose the price where .pdf

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1) We know that revenue is maximized when we choose the price where .pdf
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1) We know that revenue is maximized when we choose the price where .pdf