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Focusing on maximizing revenue

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A firm has just introduced a product in a market and would like to increase its market share by focusing on maximizing revenue in the current period. It has estimated that the demand for the product is Q = 1,500 - 75 P. Then to maximize revenue, the firm should charge

  • P=$8
  • P=$10
  • P=$5.5
  • None of the above

Reference no: EM131104038

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