California Instruments, a manufacturer of calculators, finds by test marketing its calculators at UCLA that 180 calculators
Question:
California Instruments, a manufacturer of calculators, finds by test marketing its calculators at UCLA that 180 calculators could be sold when they were priced at \(\$ 10\), but only 20 calculators could be sold when they were priced at \(\$ 40\). On the other hand, the manufacturer finds that 20 calculators can be supplied at \(\$ 10\) each. If they were supplied at \(\$ 40\) each, overtime shifts could be used to raise the supply to 180 calculators. What is the optimum price for the calculators?
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The optimum price for the calculators can be found by finding the point where the demand for the cal...View the full answer
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