a) -20b)20c)402. Demand for Wally's Wonderful Burgers is given as Q = 100 - 10P.

a) -20

b)20

c)40

2. Demand for Wally's Wonderful Burgers is given as Q = 100 - 10P.

His cost of production is given as total cost C(Q) = 30 + 4Q. At Wally's revenue maximizing price the absolute value of the price elasticity of demand for his burgers equals:

a)1

b) 0.3

3. Demand for Wally's Wonderful Burgers is given as Q = 100 - 10P. His cost of production is given as total cost C(Q) = 30 + 4Q. If Wally is a profit maximizer his profit from burger sales will equal _______

a)-20

b)60

1 ) First step :you need to find the inverse demand functionQQ = 100 - 10 p -10 P = 100 - Q -7 p = 10 - 01 4TR = P. Q = 10 Q - 0, 1 Q2MR = 2TR_ 10 - 0, 2QRevenue man occurs at MRZQ10 - 0,...