dolution
dolution.
Q / The demand function of one of the companies was estimated as follows: (0.014 + 0.57 + 32 – 11000 = Q), since 2,000 = p, 4,000 = 1, and 100,000 =
A. What is required: A- Determine the price, income, and advertising elasticities of demand? Then determine the price that maximizes total revenue?
b- Determine the mathematical formula of the demand function and explain it graphically? Then determine the new formula for the demand function in the event of an increase in income to a new level that you specify, between 5000 and 8000, and explain it on the same graph?
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