Question
The editor of Marx magazine is considering three alternative prices for her new monthly periodical. Her estimate of price and quantity demanded are: Price Quantity
The editor of Marx magazine is considering three alternative prices for her new monthly periodical. Her estimate of price and quantity demanded are:
Price | Quantity Demanded | |
---|---|---|
$7.94 | 24,700 | |
$6.95 | 31,800 | |
$5.93 | 36,700 |
Monthly costs of producing and delivering the magazine include $94,600 of fixed costs and variable costs of $2.40 per 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) | |
---|---|---|
$7.94 | $enter a dollar amount | |
$6.95 | $enter a dollar amount | |
$5.93 | $enter a dollar amount |
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).)
A price of $ yields the largest monthly profit. |
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