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1. A winery's yearly subscription to its Golden Membership is priced at $400. Today, it has 1000 subscribers. Market analysis shows that each decrease by
1. A winery's yearly subscription to its Golden Membership is priced at $400. Today, it has 1000 subscribers. Market analysis shows that each decrease by $5 per year on this membership will generate 20 more subscribers. (a) What should the Golden Membership subscription price be for the winery to maximize its yearly revenue? Make sure you show all steps of this optimization task
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Managerial Economics
Authors: Paul Keat, Philip K Young, Steve Erfle
7th edition
0133020266, 978-0133020267
