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If marginal revenue is 20 and elasticity of demand is 5/2, then average is |
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Answer» Given :- If MARGINAL revenue is 20 and elasticity of DEMAND is 5/2 . To Find :-
ANSWER :- we know that,
putting VALUES we get, → Average = 20 * [(5/2) / (5/2 - 1)] → Average = 20 * [(5/2) / (3/2)] → Average = 20 * [(5/2) * (2/3] → Average = 20 * (5/3) → Average = (100/3) → Average = 33.34 (Ans.) Learn more :- The cost of sunflower oil is increased by 30 % due to which consumption is decreased by 20%. Percentage change in the ex... |
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