Question
Shaughnessy Consulting, LLC currently enjoys a patent on software that estimates economic damages for clients involved in personal injury lawsuits. Demand for my software is
Shaughnessy Consulting, LLC currently enjoys a patent on software that estimates economic damages for clients involved in personal injury lawsuits. Demand for my software is
QD = 60.3 - 0.1P. Creating the software cost me about $2,000 in development and coding. I can produce a copy of the software for $3.00 per unit (constant cost).
a.How many copies of the software should I attempt to sell? At what price should I sell it?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Using R For Econometrics
Authors: Florian Heiss
1st Edition
1523285133, 9781523285136
