Essay
The relationship d = 5000 25p describes what happens to demand (d)as price (p)varies.Here,price can vary between $10 and $50.
A)How many units can be sold at the $10 price? How many can be sold at the $50 price?
B)Model the expression for total revenue.
C)Consider prices of $20, $30, and $40. Which price alternative will maximize total revenue? What are the values for demand and revenue at this price?
Correct Answer:
Verified
Correct Answer:
Verified
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