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Data relating to Product Lex is shown below: Price elasticity of demand is -1.2 Variable cost is 8 The profit-maximising price of Product Lex is

Data relating to Product Lex is shown below: Price elasticity of demand is -1.2 Variable cost is 8 The profit-maximising price of Product Lex is closest to: (a) 40 (b) 48 (c) 9.60 (d) None of the above

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