A Firm Faces a Demand Function D(p), for Which the Revenue-Maximizing

question 80

Multiple Choice

A firm faces a demand function D(p) , for which the revenue-maximizing price is $10.The demand function is altered to 2D(p) .What is the new revenue-maximizing price?

• A)$5
• B)$20
• C)$10
• D)There is insufficient information to determine this.
• E)none of the above.

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Definitions:

Crowds

Large groups of people gathered together, usually without formal structure, often for a common purpose or event.

Cliques

Social groups, usually within larger groups, characterized by tight-knit and often exclusionary relationships among members who share common interests or backgrounds.

Peers

Individuals who are at a similar age or level of development, often influencing one's social and psychological growth.

Psychological Closeness

The feeling of emotional intimacy and connection between individuals.