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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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