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Assume that the following table represents the demand schedule for the product of the company that you own or work for: Table 1: Demand Schedule
Assume that the following table represents the demand schedule for the product of the company that you own or work for: Table 1: Demand Schedule Price (USD) 0 20 40 60 80 100 120 140 Quantity p/day 60 70 60 50 40 30 20 10 Total Revenue (USD)iI ) Suppose you are the financial officer of a national airline in your country (e.g. Ethiopian Airlines). Based on the company's sales figures, you estimate that the demand and supply schedules for the airline tickets can be represented by the following linear equations. QJ = 250 - P (demand curve) Qs = 50 + 3P (supply curve)
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