P Is the Price Per Unit in Dollars and Q

question 59

Multiple Choice

p is the price per unit in dollars and q is the number of units. The monthly demand function is and the supply function before taxation is Find what tax per item will maximize the total revenue and use this to find the maximum tax revenue. ​

• A) $2,176
• B) $962
• C) $1,924
• D) $916
• E) $1,504

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Definitions:

Financial Document

Written records that contain important financial information pertaining to a person or entity.

Owned And Owed

Refers to assets or resources that an entity possesses (owned) and obligations or debts that it is responsible for (owed).

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.

Market Share

denotes the percentage of an industry's sales that a particular company controls, indicating its competitiveness and influence.