In Todays World

1420 Words6 Pages
In today's world technology continues to advance at an alarming rate, which means consumers can now obtain his or her favorite reading material within a click of a button. Through advancement of technology, it has not only help to keep the cost of production down, but also lower the amount that it will take to print and ship materials to stores or consumers' homes. Although a technology continues to increase on larger levels, consumers are still enjoying it literacy within the computer realm. The focus of this proposal paper is to analyze Will Bury invention for the digitized program which allows readers to read on heighten levels. The paper will also identify the market structure, elasticity of the product marginal cost and marginal…show more content…
Recent reports reveals that Mr. Bury is presently selling his product within two process which consist of $10 for a title, which the copy rights has lapse and $15 dollars for a title that includes a fee. When looking at the product first month of operation and sales the digitizer only sold 1,000 of its older book and 2,000 for the newer books. Mr. Bury could not fully understand why he was not able to sell as many old books as he did a new book. Through carefully listening to Ms. Budley on how she improved her artwork business by increasing the prices, Mr. Bury decided it will be in his best interest to increase the prices of the old books. Methods to Determine Profit Maximizing Quantity Choosing to increase the price of his old books would seem as though he is making a bad business decision,but it will allow an increase in revenue to take place. Mr. Bury can calculate is total revenue by examining how much the quantity of good sold and then multiply it by its price. This type method is used to measure how much money a company makes from selling its products; before any cost are considered (Tucker, 2013, para.4). Mr. Bury business can choose to sell his older books at a higher price, and reduce the price on the new books, and this will allow increasing profits to takes place. When analyzing the current for the newer books there was no change in its consumers and this based on

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