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QUESTION

Econ3410

Last month the Financial Times reported that Japanese firm Akagi Nyuguyo was increasing the price of its popular children’s ice cream bar Garigari-kun for the first time in 25 years, from ¥60 to ¥70. Suppose that a 7-11 store typically sold 500 ice cream bars a day, but now expects to sell only 400 bars a day. Assuming a linear relationship between price (p) and quantity demanded (x), write down the linear price-demand function p(x)  

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  • rishi
    rishi
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    ANSWER
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    *******

    ***

    as per the *********** of ********* ********************

    and

    x=demandm=slope ******* ***

    ********

    ************

    ** price ***********

    **

    *************************** Nowas *** *** ******* *************

    **

    ************************ * *** *** *******

    ***

    inverse relationship ******* ****** *** price ********************** ******************* =>p(x)=110-x/10 ********************************** ***** *** ******

    in

    *****

    and

    demand ***********************

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