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5. Rodan's management team wants to project the contribution profit that it can anticipate from its best-selling product next year. Rodan currently sells 25,000 of
5. Rodan's management team wants to project the contribution profit that it can anticipate from its best-selling product next year. Rodan currently sells 25,000 of these each year at an average price of $850 with a variable cost of $325. Research shows that its price elasticity is 0.85. If it chooses to raise prices 10%, about how much can it expect its total contribution profit for the product to increase next year, all others things equal? Please solve in excel only
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