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The editor of Foress magazine is considering three alternative prices for her new monthly periodical. Her estimate of price and quantity demanded are: Price Quantity

The editor ofForessmagazine is considering three alternative prices for her new monthly periodical. Her estimate of price and quantity demanded are:

Price Quantity Demanded
$7.91 24,300
$6.96 31,000
$5.92 36,800

Monthly costs of producing and delivering the magazine include $96,500of fixed costs and variable costs of $2.30per issue. Which price will yield the largest monthly profit?(Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Price Profit/(loss)
$7.91 $enter a dollar amount
$6.96 $enter a dollar amount
$5.92 $enter a dollar amount

A price of $enter the largest monthly profit amount in dollars rounded to 2 decimal places yields the largest monthly profit.

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