Your Latest CD - ROM Drive Is Expected to Sell

question 28

Essay

Your latest CD - ROM drive is expected to sell between units if priced at p . You plan to set the price between $100 and $400. What are the maximum and minimum possible revenues you can make? What is the average of all the possible revenues you can make? Please enter your answer as three numbers, separated by commas.

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Definitions:

Regulatory Changes

Modifications or updates in laws and regulations that affect how businesses operate and compete.

Property Rights

The rights to use, control, and obtain the benefits from a good or resource.

External Costs

Costs of a transaction or activity that affect parties who did not choose to incur that cost, often not reflected in the market price.

Social Cost

The total cost to society as a whole, including both private costs incurred by firms or individuals and external costs imposed on others.