If the marginal revenue from a product is $15 and the price elasticity of demand is −1.2, what is the price of the product?

If the supply curve touches Y axis elasticity of the supply is less than one Tell the above is true or false

Suppose there is a 10% increase in the price of apples. In the immediate short run this elicits a 1% increase in the quantity of apples supplied. Calculate the elasticity of supply. Is this elasticity of supply elastic or inelastic? Why do you think this is?  Now assume that over a ten year period a 10% increase in the price of apples leads to a 15% increase in the quantity of apples supplied. Calculate this elasticity of supply. Is it elastic or inelastic? Explain the difference in your two measures of elasticity.

Suppose you are a business owner.  Discuss how you would use various demand elasticities (own-price, cross-price & income) in your decision making process.

According to what you've learned about the price elasticity of demand, do you think that education in community colleges has an elastic or inelastic demand? Why? Explain your answer

Suppose that over a range of prices, the price elasticity of demand varies from 15.0 to 2.5. Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say about total revenues and the total revenue curve over these two ranges of the demand curve as price falls?

Suppose you own a bookstore. You believe that you can sell 40 copies per day of the latest John Grisham novel when the price is $35. You consider lowering the price to $25 and believe this will increase the quantity sold to 50 books per day. Compute the price elasticity of demand using the midpoint formula and these data. Predict what will happen to your revenue if you reduce your price.

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

If price elasticty of demand is -2, and price is 8 dollars Marginal revenue should be :  a 1 b 2 c 3 d 4  e 5

The Total Revenue is decreasing when the demand is inelastic and the price is increased slightly. True O False