(Solved by Humans)-Bob's Company sells one product with a varibale cost of $5 per

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Question

Bob's Company sells one product with a varibale cost of $5 per unit. The company is unsure what price to charge in order to maximize profits. The price charge will also affect demand. If fixed costs are $100,000 and the following chart represents the demand at various prices, what price should be charged in order to maximize profits?

Units Sold????????????? Price

30,000??????????????????? $10

40,000??????????????????? $9

50,000?????????????????? ?$8

60,000??????????????????? $7




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