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c) Doddy Ltd wants to ascertain the best price to set for one of its products called Donny' and has provided the following information. The
c) Doddy Ltd wants to ascertain the best price to set for one of its products called "Donny' and has provided the following information. The current price of the product is $400.00 per unit and at this price the company can make and sell 1,500 units of Donny in a month. Doddy Ltd is planning to increase the price by $50 per unit and this will result in the sales quantity to fall to 1,300 units per month. If the company were to continue to increase the price then, it would eventually lead to zero sales demand. Required: Based on the information given above, derive the demand curve. (6 marks) (Total: 25 marks)
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