Solve the Problem. -A Company Is Planning to Manufacture a New Blender.After Conducting

question 50

Multiple Choice

Solve the problem.
-A company is planning to manufacture a new blender.After conducting extensive market surveys,the research department estimates a weekly demand of 600 blenders at a price of $50 per blender and a weekly demand of 800 blenders at a price of $40 per blender.Assuming the demand equation is linear,use the research department's estimates to find the revenue equation in terms of the demand x.

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Definitions:

Excludable

A characteristic of a good whereby it is possible to prevent people from enjoying the good unless they have paid for it.

Club Goods

Goods that are excludable but non-rivalrous, where one person's use of the good does not reduce the availability to others but access can be restricted.

Public Goods

Products that cannot be withheld from anyone and whose consumption by one individual doesn't reduce availability for others.

Wild Salmon

A type of salmon that is born and spends its life in natural bodies of water, as opposed to being raised in captivity or fish farms.