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Product: Textbook . Selling price: $60 . Sales in January: 500 . Price elasticity: 5 The information above is provided by a bookstore. The store
Product: Textbook . Selling price: $60 . Sales in January: 500 . Price elasticity: 5 The information above is provided by a bookstore. The store manager wants to determine if $50 is the profit maximization price for this textbook. He also provides the following information: . Purchase price from publisher: $40
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