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Determining the price for a product can be tricky! Companies often have to juggle several variables in order to find the price that maximizes their revenue. Currently, the price of a product is set at $100. The company is getting about 20 customers per week at this rate. The company has done some research and found that they lose two customers for every $5 they increase their price.
Let the variable ”x” represent the number of times the company increases the price by $5. What is the price of the product when x= 3?
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