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: d = 1,000 - 12p where p must be between $20 and $80. (a) How many units can the firm sell at the $20 per-unit price? At the $80 per-unit price? units at $20 per-unit = units at $80 per-unit = (b) What happens to annual units demanded for the product if the firm increases the per-unit price from $24 to $25? From $44 to $45? From $66 to $67? What is the suggested relationship between the per-unit price and annual demand for the product in units? (i) What happens to annual units demanded for the product if the firm increases the per-unit price from $24 to $25? units at $24 per-unit = units at $25 per-unit = (ii) What happens to annual units demanded for the product if the firm increases the per-unit price from $44 to $45? units at $44 per-unit units at $45 per-unit = (iii) What happens to annual units demanded for the product if the firm increases the per-unit price from $66 to $67? units at $66 per-unit = units at $67 per-unit =