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Currently, the demand equation for necklaces is Q = 30 – 4P. The current price is...

Currently, the demand equation for necklaces is Q = 30 – 4P. The current price is $10 per necklace. Is this the best price to charge in order to maximize revenues? If not, what is?

Solve for the best price to charge in order to maximize revenues. Show any steps or processes used to reach the answer above. Explain your process as though you are teaching the concept to a student who is a beginner in economics.

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