Consumers inverse demand function for bottled water

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Reference no: EM13981939

Suppose a typical consumer's inverse demand function for bottled water at a resort area where one firm owns all the rights to a local spring is given by P = 15 - 3Q. The marginal cost for gathering and bottling the water is $3 per gallon. Find the optimal number of bottles to package together for sale and the profit-maximizing price to charge for the package. Show the solution graphically.

Reference no: EM13981939

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