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QUESTION

We have 3,000 Units of product to sell over a Fve-day period. rom historical sales data, we have esTmated the following demand curves P=price/unit in...

We have 3,000 Units of product to sell over a Fve-day period. ±rom historical sales data, we have

esTmated the following demand curves

P=price/unit in $

Q=number of units sold

Day 1: P=10-0.01Q

valid for prices between $3and $8.

Day 2: same as Day 1

Day 3: P= 15-0.01Q

valid for prices between $6 and $10

Day 4 P=20-0.01Q

valid for prices between $6 and $12

Day5: same as Day 1

The revenue maximizing price for Day 1 is  (Hint: Please keep one decimal point.), and quantity sold is  (Hint: Please enter an integer.). 

The revenue maximizing price for Day 2 is  (Hint: Please keep one decimal point.), and quantity sold is  (Hint: Please enter an integer.). 

The revenue maximizing price for Day 3 is  (Hint: Please keep one decimal point.), and quantity sold is  (Hint: Please enter an integer.). 

The revenue maximizing price for Day 4 is  (Hint: Please keep one decimal point.), and quantity sold is  (Hint: Please enter an integer.). 

The revenue maximizing price for Day 5 is  (Hint: Please keep one decimal point.), and quantity sold is  (Hint: Please enter an integer.). 

**Note that only 3,000 total units can be sold. The previous solution for this problem does not consider the fact that only 3,000 are available.

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