This chart shows the results from a research study that a company conducted to determine the appropriate price for a new product: Based on the chart, at what price should the company sell the product if it intends to maximize its profits? Price Supply Demand $1 110 720 $2 220 610 $3 315 505 $4 400 400 $5 505 315 $6 610 220 $7 720 110 Responses $6, because even if people buy less product, the higher price would generate more money $6, because even if people buy less product, the higher price would generate more money $4, because the company would sell all its stock without a shortage or surplus $4, because the company would sell all its stock without a shortage or surplus $3, because more people would be willing to buy the product at a lower price $3, because more people would be willing to buy the product at a lower price $5, because the company would clear its supply at that price $5, because the company would clear its supply at that price