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Evaluate how sale of books would change

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Reference no: EM132492455

A Book company is facing following demand function:

Qx = 12,000 - 5,000Px + 5I + 500Pc

where Px = Rs.5, I = Rs.10,000, Pc = Rs.6

a). Determine what effect a price increase would have on total revenue?

b). Evaluate how sale of books would change during a period of rising incomes?

Reference no: EM132492455

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