.Suppose that a busy restaurant charges $9 for its octopus appetizer. At this price, an average of 48 people orders the dish each night. When it raises the price to $12, the number ordered per night falls to 42. Assuming that demand is linear, find the demand curve the restaurant faces. What price should the restaurant charge to maximize revenues?
.Suppose that a busy restaurant charges $9 for its octopus appetizer. At this price, an average of 48 people orders the dish each night. When it raises the price to $12, the number ordered per night falls to 42. Assuming that demand is linear, find the demand curve the restaurant faces. What price should the restaurant charge to maximize revenues?
Chapter6: Demand Relationships Among Goods
Section: Chapter Questions
Problem 6.4P
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- 2.suppose that a busy restaurant charges $9 for its octopus appetizer. at this
price , an average of 48 people orders the dish each night. when it raises the price to $12, the number ordered per night falls to 42. assuming thatdemand is linear, find the demand curve the restaurant faces. what price should the restaurant
Question: 2.Suppose That A Busy Restaurant Charges $9 For Its Octopus Appetizer. At This Price, An Average Of 48 People Orders The Dish Each Night. When It Raises The Price To $12, The Number Ordered Per Night Falls To 42. Assuming That Demand Is Linear, Find The Demand Curve The Restaurant Faces. What Price Should The Restaurant
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See the answer2.Suppose that a busy restaurant charges $9 for its octopus appetizer. At this price, an average of 48 people orders the dish each night. When it raises the price to $12, the number ordered per night falls to 42.
- Assuming that demand is linear, find the demand curve the restaurant faces.
- What price should the restaurant charge to maximize revenues?
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