Question
Tommy recently opened TJ Tobacco INC. that nets an average of $26,000 in profit a month. The average high end 1-gram oil vape cartridge sells
Tommy recently opened TJ Tobacco INC. that nets an average of $26,000 in profit a month. The average high end 1-gram oil vape cartridge sells between $34.95 to $58.41. He has learned, in his specific shop location, that selling a vape cartridge for $34 each, he can sell 10 cartridges a month, but for each $4 he raises the price, 1 less cartridge is sold. Keeping the average selling price range in mind, at what price should Tommy sell the vape cartridges to maximize his revenue and stay competitive? Additionally, what percentage of his monthly profit is made from selling vape cartridges alone?
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