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Peterâ€™s Pots Inc. was in the wholesale business of selling pots for non seasonal plants. The following info is given about the company:
volume sold 6800
With respect to pricing, a two percent decrease in the retail price of pots would result in a four percent increase in the volume sold. Similarly, a two percent increase in the price would cause a four percent decrease in the volume sold. At what price per pot would the firm maximize profit?
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