Silkwood Enterprise specializes in gardening supplies. The demand for its new brand of fertilizer, Meadows Muffins, is given by the equation Q = 120 – 4p. a. Silkwood is currently charging 10 for a pound of Meadows Muffins. At this price, what is the price elasticity of demand for Meadows Muffins? b. At a price of 10, what is Silkwood #x27;s marginal revenue? c. What price should Silkwood charge if it wishes to maximize its total revenue? d. At the total revenue maximizing price, what is the price elasticity of demand for Meadows Muffins?
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