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Asked: 2021-12-26T06:05:21+05:30 In:

A monopolist faces a demand function p = 15-(1/5)q, where p is the price and q is the quantity. Obtain an expression for the marginal revenue. Does the relationship between the average revenue, marginal revenue and elasticity hold for such a market form? At what price will the marginal revenue be equal to zero?

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A monopolist faces a demand function p = 15-(1/5)q, where p is the price and q is the quantity. Obtain an expression for the marginal revenue. Does the relationship between the average revenue, marginal revenue and elasticity hold for such a market form? At what price will the marginal revenue be equal to zero?

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