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Econ 2: Spring 2014: UC Berkeley: Econ 2: Sample Final Exam II: F. The Income-Expenditure Framework
Econ 2: Spring 2014: UC Berkeley: Econ 2: Sample Final Exam II: E. "Say's Law"

Econ 2: Spring 2014: UC Berkeley: Econ 2: Sample Final Exam II: D. Elasticities

Consider the demand curve:

P = 30 - Q/30000

  1. What is the elasticity of demand at Q = 900000?
  2. What is the elasticity of demand at Q = 450000?
  3. What is the elasticity of demand at P = 30?
  4. What point on the demand curve maximizes total revenue?
  5. Why wouldn't a monopolist ever produce a quantity more than 450,000?

April 30, 2014 at 15:04 in #berkeley, #economics, Econ 2 Spring 2014, Principles of Economics, Principles of Economics: Problems | | Comments (0)

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