5. Jimbo runs a lemonade stand where he sells 150 cups of lemonade a day, charging $8.00 a cup. His research analyst tells him that for every $0.50 increase in price, he will sell 10 less cups of lemonade a day. a) what is the demand, or price function in terms of number of cups sold? b) What is the marginal revenue when sales are at 100 cups of lemonade/day
5. Jimbo runs a lemonade stand where he sells 150 cups of lemonade a day, charging $8.00 a cup. His research analyst tells him that for every $0.50 increase in price, he will sell 10 less cups of lemonade a day. a) what is the demand, or price function in terms of number of cups sold? b) What is the marginal revenue when sales are at 100 cups of lemonade/day
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Transcribed Image Text:5. Jimbo runs a lemonade stand where he sells 150 cups of lemonade a day, charging $8.00 a cup. His
research analyst tells him that for every $0.50 increase in price, he will sell 10 less cups of lemonade a
day.
a) what is the demand, or price function in terms of number of cups sold?
b) What is the marginal revenue when sales are at 100 cups of lemonade/day
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