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Hello! Would you be able to help me with this question? Given the following information in the table for four products, find the profit- maximizing
Hello! Would you be able to help me with this question?
- Given the following information in the table for four products, find the profit- maximizing price for each product.
Product | Lowest Price | Medium Price | High Price | Low Price Demand | Medium Price Demand | High Price Demand | Unit Cost |
Product 1 | $1.40 | $2.20 | $3.00 | 100 | 40 | 5 | $1.10 |
Product 2 | $2.20 | $3.00 | $4.00 | 200 | 130 | 25 | $1.50 |
Product 3 | $45.00 | $75.00 | $95.00 | 400 | 300 | 130 | $40.00 |
Product 4 | $200.00 | $250.00 | $300.00 | 600 | 300 | 50 | $120.00 |
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