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Given the Demand Function QX = 1500 - 100PX

Question 77

True/False

Given the demand function QX = 1500 - 100PX + 75PY + 1.5I + .06A where PY = $40.00. I = $2500, and A = $5,000, the average revenue equation is AR = 58.85 - .01QX.

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