Question

2)) Find the price by completing the following activity, if the marginal revenue
is 28 and elasticity of demand is 3.
Given R = 28 and n = 3
Since R=R
.. 28 = R
R R
28x
..R.
Hence, the price -
mondot n=5 by completing the​

Answer 1

Answer:

rm = p (1-1/n)

28 = p (1-1/3

28 = p (2/3)

28x3/2 = p

p =42

price = 42