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1.) A gas station sells 1200 gallons of gasoline per hour if it charges $ 2.10 per gallon but only 1000 gallons per hour if it charges $ 2.90 per gallon. Assuming a linear model:

(a) How many gallons would be sold per hour if the price is $2.45 per gallon? Answer: _________

(b) What must the gasoline price be in order to sell 1300 gallons per hour? Answer: $ _________

(c) Compute the revenue taken at the four prices mentioned in this problem $2.10, $2.45, $2.90 and your answer to part (b). $ __________

(d) Which price gives the most revenue? Answer: $ __________

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M91644803

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