Use the following information for the next 2 questions.
TTV Corporation's managers estimate that a 50% increase in price would cause an 80% reduction in the quantity of product sold. Total fixed costs for the product are $5,000 and total variable costs are $4,000, based on production of 400 units. The following values may be useful: 
-TTV's profit maximizing price is
Definitions:
Micro-Macro Linkage
The relationship and interplay between individual actions and behaviors (micro-level) and larger societal structures and processes (macro-level).
European
Pertaining to or originating from Europe, often referring to the cultures, languages, or individuals from European countries.
Ontologically
Pertaining to ontology, the branch of metaphysics dealing with the nature of being.
Ambiguity
The quality of being open to more than one interpretation; inexactness or uncertainty in meaning.
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