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Managerial Economics 7th Edition by Paul Keat ,Philip Young,Steve Erfle
Edition 7ISBN: 978-0133020267Managerial Economics 7th Edition by Paul Keat ,Philip Young,Steve Erfle
Edition 7ISBN: 978-0133020267 Exercise 1
The following function describes the demand condition for a company that makes caps featuring names of college and professional teams in a variety of sports.
Q = 2,000 - 100 P
where Q is cap sales and P is price.
a. How many caps could be sold at $12 each
b. What should the price be in order for the company to sell 1,000 caps
c. At what price would cap sales equal zero
Q = 2,000 - 100 P
where Q is cap sales and P is price.
a. How many caps could be sold at $12 each
b. What should the price be in order for the company to sell 1,000 caps
c. At what price would cap sales equal zero
Explanation
Verified
Verified
(a) We are given the following demand eq...
Managerial Economics 7th Edition by Paul Keat ,Philip Young,Steve Erfle
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