Math Problem Statement
It Stopdecay does not change its price, the average monthly total revenue would be . On the other hand, if it changes the price to sell the same number of units as it did before, the average monthly total revenue would be .
Solution
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Math Problem Analysis
Mathematical Concepts
Revenue Calculation
Price and Demand Relationship
Algebra
Formulas
Revenue = Price × Quantity
New Revenue = New Price × Quantity
Theorems
Price Elasticity of Demand
Revenue Maximization
Suitable Grade Level
Grades 9-12
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