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Exercise II: Maximum Revenue (8 points) A winery's yearly subscription to its Golden Membership is priced at $400. Today, it has 1000 subscribers. Market analysis

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Exercise II: Maximum Revenue (8 points) 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 generates 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. (b) Find the maximum revenue in this case, and the number of yearly subscribers. (c) Some more analysis shows that the estimated number of subscribers was too high, and that a more realistic model should be based on 10 more subscribers (and not 20) per $5 decrease in yearly mem- bership price. Given that no other initial assumptions change, how much should the winery set its subscription at? What is the new maximum revenue

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