The coffee market in Boblandia is perfectly competitive. Demand, where each unit is a million cups, is characterized by P(Q) = 140 – 5xQ. (That is, if Q=2.5, it means 2,500,000 cups of coffee.) If...


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The coffee market in Boblandia is perfectly competitive. Demand, where each unit is a<br>million cups, is characterized by P(Q) = 140 – 5xQ. (That is, if Q=2.5, it means<br>2,500,000 cups of coffee.) If exactly 13 units are demanded, what is the market price<br>of a cup of coffee?<br>Round to two decimal places. If your answer is 1.125, enter 1.13. And do not enter the<br>currency symbol for the Bobo, the official currency of Boblandia.<br>

Extracted text: The coffee market in Boblandia is perfectly competitive. Demand, where each unit is a million cups, is characterized by P(Q) = 140 – 5xQ. (That is, if Q=2.5, it means 2,500,000 cups of coffee.) If exactly 13 units are demanded, what is the market price of a cup of coffee? Round to two decimal places. If your answer is 1.125, enter 1.13. And do not enter the currency symbol for the Bobo, the official currency of Boblandia.

Jun 09, 2022
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