Based on the sales data Caleb sent you, answer the questions below to find the relationship between the change in customers per month and a $1 change in price

 

Using Caleb's data, give an example of a price increase and an example of a price decrease. Include the change in the number of customers with each example.

Price Increases

• If Caleb increased his price from __12 usd___ to ___14 usd___, the price increased by ____2 usd___ and the number of customers (decreased) by ______12 customers_______. 

Price Decreases

•  If Caleb decreased his price from ___18 usd__ to ___14 usd_____, the price decreased by ____4 usd___ and the number of customers (increased) by _____24 customers______. 

• With every price increaseof $1, Caleb (lost) _____6____ customers.

Transcribed Image Text:

Price (per 30 min) Customers per month Revenue per month $12 214 $5136 $14 202 $5656 $18 178 $6408 $22 154 $6776 $28 118 $6608 $34 82 $5576 Price (per 30 min) Customers per month Revenue per month $12 214 $5136 $14 202 $5656 $18 178 $6408 $22 154 $6776 $28 118 $6608 $34 82 $5576

Answer rating: 100% (QA)

Answer Price Increases Here the price of the product is given with different level of customers and ... View the full answer