The answer is 12.5 .
Marginal Value can be expressed as MR = dTR/dQ ,
dTR with respect to dQ is the first derivative of the total revenue function.
This formula of MR is very useful when the demand function has a known constant price elasticity.
So, here it becomes mr =price/elasticity
=20/1.6 =12.5
Question : Which one is not the type of elasticity of demand?
Option 1: Price elasticity of demand
Option 2: Income elasticity of demand
Option 3: Cross elasticity of demand
Option 4: Consumer elasticity of demand
Question : The elasticity of demand for price is:
Option 1: Elasticity = Percentage change in demand/Percentage change in time
Option 2: Elasticity = Percentage change in price/Percentage change in demand
Option 3: Elasticity = Percentage change in demand/Percentage change in supply
Option 4: Elasticity = Percentage change in supply/Percentage change in price
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