For most products, higher prices result in a decreased demand, whereas lower prices result in an increased demand (economists refer to such products as normai goods). Let dannual demand for a product in units . p -price per unit Assume that a firm accepts the following price demand relationship as being a realistic representation of its market: where p must be between $10 and $70 a. How many units can the firm sell at the $10 per-unit price? At the $70 per-unit price? Firm Sold 10 per-unit price units 70 per-unit price units b. What happens to anual units demanded for the product if the firm increases the per-unit price from s26 to 27? From $42 to $43? From 68 to $697 Change in per-unit price From $26 to 527 From $42 to $43 From $63 to s69 Effect on demand what is the suggested relationship between per-unit price nd annual demand for the product in units? Results suggest that one dollar increase in price results in unit in demand. c. Choose the correct mathematical model for the total revenue (TR), which is the annual demand multiplied by the unit price. (1) TR 730-10p (2) TR 730p - 10p2 (3) TR 730p-1Op 720p (4) TR 730p 10