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The relationship d = 1000 - 50p describes what happens to demand (d) as price (p) varies. Here, price can vary between $2 and $10.
A. How many units can be sold at the $2 price? How many can be sold at the $10 price?
B. Model the expression for total revenue.
C. Consider prices of $6, $6, $8. Which price alternative will maximize total revenue? What ae the values for demand and revenue at this price?
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