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At what price is total revenue at a maximum

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Reference no: EM131611847

Question: a. What happens to total revenue if the price falls from $400 to $350 a chip and from $350 to $300 a chip?

b. At what price is total revenue at a maximum?

Price (dollars per chip)              Quantity supplied
                                     (millions of chips per year)

       200                                  50

       250                                  45

       300                                  40

       350                                  35

       400                                  30

Reference no: EM131611847

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