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The marginal cost of a new product is $70. A market research suggests that the targeted customers are willing to pay $95 for the new

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The marginal cost of a new product is $70. A market research suggests that the targeted customers are willing to pay $95 for the new product. However, a group of industrial experts calculate that the economic value of this new product for the targeted customers is $110, and the industrial statistics show that the average profit in this industry is 50% of the marginal cost. What is the maximum price you would suggest for this new product? (A) $70 (B) $95 (C) $105 (D) $110

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