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A cable television firm presently serves 7000 households and charges $50 per month. A marketing survey indicates that each decrease of $5 in the monthly charge will result in 1000 new customers. Let p denote the monthly charge in dollars. Answer the following: (a) Suppose that the number of households is a linear function of the monthly charge p. Determine an equation for . (b) Determine the revenue function in terms of p. (c) Determine the value of p that results in maximum monthly revenue. (Round your answer to the nearest cent.)
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