You are running a chocolate factory and need to decide on the price to sell the chocolate as well as the quantity to produce. Demand curve; Q = 8.5 - 0.05 * P. The cost curve is C = 100 + 38Q. The business is a profit maximizer. 1) What is the best price to charge each week? 2) What is the best quantity to make each week? 3) What are the expected profits
You are running a chocolate factory and need to decide on the price to sell the chocolate as well as the quantity to produce. Demand curve; Q = 8.5 - 0.05 * P. The cost curve is C = 100 + 38Q. The business is a profit maximizer. 1) What is the best price to charge each week? 2) What is the best quantity to make each week? 3) What are the expected profits
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter5: Investment Decisions: Look Ahead And Reason Back
Section: Chapter Questions
Problem 5.6IP
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You are running a chocolate factory and need to decide on the
The business is a profit maximizer.
1) What is the best price to charge each week?
2) What is the best quantity to make each week?
3) What are the expected profits
Is it possible to get this in an excel with equation formulas
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