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For most products, higher prices result in a decreased demand, whereas lower prices result in an increased demand. Let d = annual demand for a
For most products, higher prices result in a decreased demand, whereas lower prices result in an increased demand. Let d = annual demand for a product in units p = price per unit Assume that a firm accepts the following price-demand relationship as being realistic: -800-10p where p must be between $20 and $70. a. How many units can the firm sell at the $20 per-unit price? Round your answer to the nearest whole number. 600 units At the $70 per-unit price? Round your answer to the nearest whole number. 100 units b. What happens to annual units demanded for the product if the firm increases the per unit price from $26 to $27? If the firm increases the per unit price from $26 to $27, the number of units the firm can sell falls by From $42 to $43? If the firm increases the per unit price from $42 to $43, the number of units the firm can sell falls From $68 to $69? If the firm increases the per unit price from $68 to $69, the number of units the firm can sell falls by by
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