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Business, 24.06.2020 19:01 whattag

Until recently, hamburgers at the city sports arena cost $3.50 each. The food concessionaire sold an average of 12,500 hamburgers on game night. When the price was raised to $4.20, hamburger sales dropped off to an average of 9,000 per night. Assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. If the concessionaire has a fixed cost of $1000 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.

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Until recently, hamburgers at the city sports arena cost $3.50 each. The food concessionaire sold an...

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