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Question
When the price of a glass of lemonade at a lemonade stand was $1.75, 400 glasses were sold. When the price was lowered to $1.50, 500 glasses were sold. Assume that the demand function is linear and that the marginal and fixed costs are $0.10 and $ 25, respectively. Find the profit P as a function of x, the number of glasses of lemonade sold.A)
B)
C)
D)
E)
Answer
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