Given that the demand function of a monopolist is Q=1/5(55-P),

a.  derive the monopolist’s demand and marginal revenue schedules from P=$55 to P=$20 at $5 intervals using Excel.

b.  Calculate the ranges over which D is elastic and inelastic, and the point where D is unitary elastic.

c.  Using the formula realting marginal revenue, price, and elasticity, calculate the price elasticity of demand at P=$40.

 

 

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