Assume that there is only one product and one resource. The maximal demand for this product...
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Assume that there is only one product and one resource. The maximal demand for this product is 15 units if the price A is set to 0. The price for this product can be varied between 0 and 30. The price-demand function is PDF(X)=√900 - X². Ex- plain how you can calculate the price opt that leads to a maximal revenue REV opt Calculate both values (optimal price and optimal revenue). (6 points) Assume that there is only one product and one resource. The maximal demand for this product is 15 units if the price A is set to 0. The price for this product can be varied between 0 and 30. The price-demand function is PDF(X)=√900 - X². Ex- plain how you can calculate the price opt that leads to a maximal revenue REV opt Calculate both values (optimal price and optimal revenue). (6 points)
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First we must find the price at which the demand for the product is maximized to calculate optim... View the full answer
Related Book For
Operations and Supply Chain Management
ISBN: 978-0078024023
14th edition
Authors: F. Robert Jacobs, Richard Chase
Posted Date:
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