Business, 09.04.2021 03:20 ctyrector

Question 1. Detailer Revenue Maximization Using data from their survey, the Detailer team has estimated that the demand for the Detailer can be expressed by the following linear equation: Quantity sold = 66,773 – 3413.6 Price a) The team wants to know what price they should charge to give them the highest possible level of revenue. Find this price using Solver. Price- $9.78, Revenue $326,534b) If we assume the Detailer will cost $5.65 per unit to produce, what is the profit maximizing price? Whyis this different from the price that maximizes revenue? The profit maximizing price is $12.61. This is different than the price that maximizes revenue because due to the cost of production, the price that maximizes revenue has about $28,000 lower in profit. c) A member of the team thinks that de

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Question 1. Detailer Revenue Maximization Using data from their survey, the Detailer team has estima...