Micropack producers would like to seek the advice of your Market Research company to advise and give your analysis of a new mask that allows greater protection from the Covid - 19 Virus. The following information about the company was given: The demand equation of x=35000-50p, where x is the demand at $p per mask was given. The cost of producing a mask was at a cost of $20. The company has an ongoing cost of 2000. Micropack would like to seek advice on a price of $30, if this will be profitable to the company with the hope that it becomes the best-selling mask and production could cease on the other type. Suggestions with reasoning are welcomed on a more appropriate price that would be financially sound. An analysis of the exact and approximate cost of producing 101st mask. An analysis of the cost, revenue and profit function must also be analysed in your advice to the company and the importance in decision making for the marginal functions of each, and what it signifies to the company. (Include examples where necessary) Micropack is willing to give any additional information that you would need, to make better business decisions.

Micropack producers would like to seek the advice of your Market Research company to advise and give your analysis of a new mask that allows greater protection from the Covid - 19 Virus. The following information about the company was given: The demand equation of x=35000-50p, where x is the demand at $p per mask was given. The cost of producing a mask was at a cost of $20. The company has an ongoing cost of 2000. Micropack would like to seek advice on a price of $30, if this will be profitable to the company with the hope that it becomes the best-selling mask and production could cease on the other type. Suggestions with reasoning are welcomed on a more appropriate price that would be financially sound. An analysis of the exact and approximate cost of producing 101st mask. An analysis of the cost, revenue and profit function must also be analysed in your advice to the company and the importance in decision making for the marginal functions of each, and what it signifies to the company. (Include examples where necessary) Micropack is willing to give any additional information that you would need, to make better business decisions.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter13: best-practice Tactics: Game Theory

Section: Chapter Questions

Problem 1.4CE

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