Suppose that the demand curve for beans is given by:

Question

Q=20-P
Where Q is thousands of pounds of beans bought per week and P is the price in dollars per pounds
a. How many beans will be bought at P=0
b. At what price does the quantity demanded of beans become zero
c. Calculate the total revenue for beans for each whole dollar price between the prices identified in parts a and b
d. What prices for beans yields the highest total revenue

Answer 1

20 thousand
20 dollars per pound
400000
5