TTV's managers estimate that a 50% increase in price would cause an 80% reduction in the quantity of product sold. Total fixed costs for the product are $5,000 and total variable costs are $4,000, based on production of 400 units. The following values may be useful: TTV's profit maximising price is
A) $2.44
B) $3.37
C) $7.57
D) $13.36

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The Answer of TTV's managers estimate that a 50% increase in price would cause an 80% reduction in the quantity of product sold. Total fixed costs for the product are $5,000 and total variable costs are $4,000, based on production of 400 units. The following values may be useful: TTV's profit maximising price is
A) $2.44
B) $3.37
C) $7.57
D) $13.36

TTV's Managers Estimate That a 50% Increase in Price Would