Assume the initial price of the drugwas $50 per unit, and at that price there were 2,000 units sold. Miland, the manufacturerof the EppiPencil, has hired you as an economic consultant. You are tasked with increasingrevenues for the company. After some research, you discover that if you raise the price of theEppiPencil to $75, consumers will be willing to purchase 1,500 units.
Required:
Based on the information above: (a) At the initial price of $50 per unit, how much revenue would the total sales of EppiPencils create for Miland?
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Assume the initial price of the drugwas $50 per unit, and at that price there were 2,000 units sold....
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