A company produces a special new type of TV. The company has fixed costs of...
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A company produces a special new type of TV. The company has fixed costs of $460,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2600 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2300. Assume a linear demand. What price should be set to earn maximum profits?
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