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The following function describes the demand condition for a company that makes caps featuring names of college and professional teams in a variety of sports.

Q = 2,000 - 100 P

where Q is cap sales and P is price.

a) How many caps could be sold at $12 each?

b) What should the price be in order for the company to sell 1,000 caps?

c) At what price would cap sales equal zero?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9497052

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