A company sells two products. The demand functions of the products are given by q 1 =
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A company sells two products. The demand functions of the products are given by q1 = 300 - 2p1 and q2 = 500 - 1.2p2, where q1 units of the first product are demanded at price p1 and q2 units of the second product are demanded at price p2. The total revenue will be given by R = q1 p1 + q2 p2. Find the average revenue if the price p1 varies from $25 to $50 and the price p2 varies from $50 to $75.
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Average Revenue R 91P1 92P2 w...View the full answer
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