Question: Demand for a particular product is given by D= 12-P where P is the selling price of the product. What would be the single price

Demand for a particular product is given by D= 12-P where P is the selling price of the product. What would be the single price of the product for revenue maximization? If the product is sold at two different prices of Rs. 5 and Rs, 7 to two different customer segments, what will happen to the revenues? Explain the mathematical working with conceptual reasoning. Also mention what phenomenon does this represent in the context of consumer surplus.

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