Part 2 (b) -9 marks A company currently sells a product for $2,700 and at this price the average weekly demand is 16,000 items. Market trends show that who that for every $100 increases in the selling price, the demand reduces by 2.000 units per week. The cost of material is $540 and labour cost is $1,480. Required: (a) Calculate the optimum (profit maximizing) selling price of the component for the period