The annual demand for a product equals 500 3p + 10a . 5 , where p
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The annual demand for a product equals 500 – 3p + 10a.5, where p is the price of the product in dollars and a is hundreds of dollars spent on advertising the product. The annual fixed cost of selling the product is $10,000, and the unit variable cost of producing the product is $12. Determine a price (within $10) and amount of advertising (within $100) that maximizes profit.
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Related Book For
Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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