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A manufacturing company sells high-quality wireless headphones through a chain of specialty shops. The demand equation for these headphones is: P = 800 - 1000
A manufacturing company sells high-quality wireless headphones through a chain of specialty shops. The demand equation for these headphones is: P = 800 - 1000 where P is the selling price (in $ per unit) and Q is the quantity demanded (in thousands of headphones). The company's total cost function is given by C = 800*ln(Q+5) - 1500 a. (2 marks) At Q =5, the revenue is |:] (thousand dollars) and the profit is |:] (thousand dollars) (Round your answer to 2 decimal places) b. (2 marks) For which value of Q is there unit elasticity of demand for the headphones? (Round your answer to 2 decimal places) |:] thousand headphones c. (1 mark) How many headphones must be sold to maximise profit? (Round your answer to 2 decimal places) thousand headphones D d. (1 mark) What is the value of the second derivative of the profit function at the maximum found in the previous question? (Round your answer to 2 decimal places) E
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