Demand function for the product of a shoe-manufacturing company is given as Q = 0.70 P +

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Demand function for the product of a shoe-manufacturing company is given as Q = –0.70 P +

0.45 A (where P = price per pair and A = advertisement cost per unit). The company sells 50,000 pairs of shoes per annum at `600 per pair. What will be the annual sales if the company spends

`1 lakh on advertisement? (Note that advertisement cost increases price.)

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Managerial Economics

ISBN: 9789325986688

8th Edition

Authors: D N DWIVEDI

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Question Posted: Oct 07, 2024 04:01 AM

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Demand function for the product of a shoe-manufacturing company is given as Q = 0.70 P +

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Managerial Economics

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