Question: I know the answer please show the work...thanks! 9) Dennis' TV currently sells small televisions for $180. It has costs of $140. A competitor is

I know the answer please show the work...thanks!

9) Dennis' TV currently sells small televisions for $180. It has costs of $140. A competitor is bringing a new small television to market that will sell for $150. Management believes it must lower the price to $150 to compete in the market for small televisions. Marketing believes that the new price will cause sales to increase by 10%, even with a new competitor in the market. Dennis' sales are currently 100,000 televisions per year. What is the impact of the changes on profits?

(Ans: a decrease of $2,900,000)

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