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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
a. Find the Consumer Surplus at the competitive equilibrium. (4 points)
b. Interpret the Consumer Surplus (4 points)
c. Determine the point elasticity of demand at price = $18? Is the point elasticity of demand elastic or inelastic – interpret what this means. (4 points)
d. If the firm wished to increase total revenue should the increase or decrease price? Explain. (4 points)
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