Company C sells a line of 25 products with an average retail price of $1,000. If none of these products sells for less than $400, and exactly 10 of the products sell for less than $1,000, what is the greatest possible selling price of the most expensive product?
Choose the correct choice from the following choices.
A) 9000
B) 8000
C) 7000
D) 6000
E) 5000
The average price of 25 products is $1,000 means that the total price of 25 products is 25*1,000=$25,000.   Next, since exactly 10 of the products sell for less than $1,000, then let's make these 10 items to be at $400 each (min possible).   Now, the remaining 14 items cannot be priced less than $1,000, thus the minimum possible price of each of these 14 items is $1,000.   Thus the minimum possible value of 24 products is 10*400+14*1,000=$18,000.   Therefore, the greatest possible selling price of the most expensive product is $25,000-$18,200=$7,000.   Answer: 7000.
<result>C</result>
Company C sells a line of 25 products with an average retail price of $1,000. If none of these products sells for less than $400, and exactly 10 of the products sell for less than $1,000, what is the greatest possible selling price of the most expensive product?