Pretend that you have a lemonade stand and that the demand for lemonade in your neighborhood is estimated to be: Q = 80 - 200 P a) The profit...
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# Pretend that you have a lemonade stand and that the demand for lemonade in your neighborhood is estimated to be: Q

= 80 - 200 P

a) The profit (revenue) maximizing price is ______ cents. (don't use a decimal point in this answer!)

b)The profit maximizing quantity (in cups) of lemonade is _______ .

c)The corresponding maximum profit is \$_______

The profit maximizing Quantity of lemonade
in
40
C
The corresponding raximing profit in \$
8
Profit = TR-TC
= PXQ - O
= \$2 x 40
profit = 8

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