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Pearl Hamill is the owner/operator of a tanning salon. She is considering four prices for a weekly tanning pass. Her estimate of price and quantity
Pearl Hamill is the owner/operator of a tanning salon. She is considering four prices for a weekly tanning pass. Her estimate of price and quantity demanded are:
Price | Quantity Demanded | |
$12.40 | 300 | |
$11.90 | 320 | |
$10.50 | 340 | |
$9.50 | 360 |
Monthly costs of providing the tanning service include $1,200 of fixed costs and variable costs of $2.50 per service. Which price will yield the largest monthly profit? (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Price | Profit/(loss) | |
$12.40 | $ | |
$11.90 | $ | |
$10.50 | $ | |
$9.50 | $ |
A price of $ yields the largest monthly profit. |
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