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A market buys T-bone steaks from a university's animal science department. The purchase price is $2.50 per pound, and the market sells the stick
A market buys T-bone steaks from a university's animal science department. The purchase price is $2.50 per pound, and the market sells the stick for $4.00 per pound. Steak left over at the end of the week is sold to a local cannery for $0.50 per pound, and the out-of-stock steak will decrease their results by $0.20 per pound (negative marketing). According to sales records over the past 100 weeks, demand has been as follows: Weekly demand Number of weeks 1000 1100 1200 1300 1400 1500 TOTAL 10 20 20 30 10 10 100
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