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3.05

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by

Hallie McMikel

on 2 August 2013

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Transcript of 3.05

iPhone Data Table..
Graph..

Questions and Answers..
a.
What product market did you choose for this data to represent? Explain why.
I chose the iphone because the price for and iphone is between $200 and $400 so it fit with the data.
b.
where does the marginal cost nearly equal marginal revenue without exceeding it?
I believe it is at (5,90).
c.
If you were in business for this product at which price and quantity level would you sell? Explain why.
I would sell it at the price of $204 and the quantity of 8 because more people want the product at that price because it's cheaper.
Name: Hallie McMikel
Date:07/16/2013
Assignment Title: 3.05 Getting the Most for Your Money.
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