You currently sell 50,000 units of a product for $60 each. The unit variable cost of producing the product is $5. You are thinking of cutting the product price by 40% because you are confident that this drop in price will increase sales by an amount of 10% through 50%. Perform a sensitivity analysis to show how profit will change as a function of the percentage increase in sales. Ignore fixed costs.

If possible can you break this down for me? I'm not exactly sure how I'm supposed to solve this. It's supposed to be done in excel and I'm not sure how I'm supposed to solve.