A company runs food service concessions for sporting events throughout the country. Their marketing research...
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A company runs food service concessions for sporting events throughout the country. Their marketing research department chose a particular football stadium to test market a new jumbo hot dog. It was found that the demand for the new hot dog is given approximately by p=8-In(x), 5 ? x ? 500, where x is the number of hot dogs (in thousands) that can be sold during one game at a price of p dollars. If the company pays 1 dollar for each hot dog, what price should they charge to maximize profit per game?
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