Bob’s company sells one product with a variable cost of $5 per unit. The company is unsure what price to charge in order to maximize profits.
Bob’s company sells one product with a variable cost of $5 per unit.
The company is unsure what price to charge in order to maximize profits. The price charged will also affect the demand. If fixed costs are $100000 and the following chart represents the demand at various prices, what price should be charged in order to maximize profits?
Units Sold________Price
30000___________$10
40000___________$9
50000___________$8
60000___________$7
$10
$9
$8
$7
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