Question
Liz is selling novelty hats on Etsy. The hats are currently priced at $25/hat. Liz is not happy with her current revenue stream and asks
Liz is selling novelty hats on Etsy. The hats are currently priced at $25/hat. Liz is not happy with her current revenue stream and asks Brad for advice. Brad estimates that the demand Liz's hats is: Q = 500 - 10P (P = 50 - 0.1Q). If Liz is looking to maximize revenue, what should Brad's recommendation be?
Group of answer choices
Keep prices at $25/shirt
Raise price to $50/shirt
Lower price to $12.50/shirt
Lower price to $10/shirt
Raise prices to $40/shirt
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International Management Culture, Strategy and Behavior
Authors: Fred Luthans, Jonathan Doh
10th edition
1259705072, 1259705076, 978-1259705076
