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b) Choose a selling price between $5-$10. Suppose on an average month you sell 500 items. For every $0.15 increase in your price you sell
b) Choose a selling price between $5-$10. Suppose on an average month you sell 500 items. For every $0.15 increase in your price you sell 10 less items.
Selling price: $7.00
Find a function for Revenue, with respect to the number of price increases. Your function will be r(x) = (number of products sold) x (price). It is important to incorporate that for every $0.15 in your price you sell 10 less items. [Hint: First find a function for the number products sold, and a function for the price of the item.]Provide a graph for your Revenue Function.
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