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hyperbolic models/functions


Guest mcyi2mr3

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Guest mcyi2mr3

In a particular retail store the average price of a typical two-seater sofa

has been £200 and average sales were 1000 per year. This year the store has

run a half price sale on such sofas and found that sales increased by 50%.

 

Question: Find a hyperbolic model for demand in terms of price.

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