A company fnds that if they price their product at 25 dollars, then they can sell 540 items of it. For every dollar increase in the price, the number of items sold will decrease by 4. What is the maximal income possible? dollars What price should the company set to achieve this maximal income? dollars Question Help: O Message instructor Submit Question

A company fnds that if they price their product at 25 dollars, then they can sell 540 items of it. For every dollar increase in the price, the number of items sold will decrease by 4. What is the maximal income possible? dollars What price should the company set to achieve this maximal income? dollars Question Help: O Message instructor Submit Question

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter22: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 4CQ

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