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Econ3410
Last month the Financial Times reported that Japanese firm Akagi Nyuguyo was increasing the price of its popular children’s ice cream bar Garigarikun for the first time in 25 years, from ¥60 to ¥70. Suppose that a 711 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 pricedemand function p(x)
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