pls use excel 5 :CASE METHOD ANALYSIS An executive is in the process of deciding on the
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pls use excel
5 :CASE METHOD ANALYSIS
An executive is in the process of deciding on the price for a new product. His goal is to maximize profit. The alternatives are different possible prices from PHP 2 per unit to PHP 15 per unit. The model to be used is described below.
q= Number of units produced (and sold)
C(q) = Total cost of producing q units
P= Price to be charged
NP= Total net profit (to be maximized)
Cost relationship:C(q) = 850 + 1.50
Sales relationship:q= -100+2,000/P
Profit:NP=Pq-C(q)
Find an appropriate solution to the model by trial and error (i.e., try several values of price between PHP 2.00 and PHP 15.00).
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