5. A mug manufacturer finds that when they price their mugs…

5. A mug manufacturer finds that when they price their mugs at $12 they sell 200 mugs. They determine that for each $1 price increase, they will sell 5 fewer mugs per month. What price should they charge to maximize revenue? Justify your solution is optimal.

0. Multiple Choice: For multiple choice and True/False pleas…

0. Multiple Choice: For multiple choice and True/False please fill in correct answer(s) for each of the following by completely filling in the appropriate bubble(s)/selecting the correct answers on Canvas. You may be asked to provide quick justification for your answer. If you are not asked to show your work no justification is required.