# I really need help with this economics, can someone see if i did this right?

demand function P=2,000-50Q

a) to sell 20 units of Q, what price would have to be charged?

is this P=1000?

b) if firm sets a price of $500, how many units of Q would be sold

Q=30?

c) what is the price elasticity of demand if price equals $500

.06?

d) at what price if any, will the demand of Q be unitary elastic

this one i just dont know how to do

any help would be greatly appreciated

a and b are correct

c price elasticity equals change in Q divided by change in P

at $500 Q is 30, at $450 Q is 31

1/30 = change Q

50/500 = change P

d) I had to plot in a lot of quantities and prices. Knowing that total revenue would be at the maximum when unitary elastic. I calculated

15Q x $1,250p = $18,750

20Q x $2,000p = $20,000

25Q x $750p = $1,8750

So maximum is 20 Q calculate elasticity and it is = 1

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a) to sell 20 units of Q, what price would have to be charged?

is this P=1000?

b) if firm sets a price of $500, how many units of Q would be sold

Q=30?

c) what is the price elasticity of demand if price equals $500

.06?

d) at what price if any, will the demand of Q be unitary elastic

this one i just dont know how to do

any help would be greatly appreciated

**Answer:**a and b are correct

c price elasticity equals change in Q divided by change in P

at $500 Q is 30, at $450 Q is 31

1/30 = change Q

50/500 = change P

d) I had to plot in a lot of quantities and prices. Knowing that total revenue would be at the maximum when unitary elastic. I calculated

15Q x $1,250p = $18,750

20Q x $2,000p = $20,000

25Q x $750p = $1,8750

So maximum is 20 Q calculate elasticity and it is = 1

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