Question: Please show work. 1. Suppose that you are able to sell 540 thingamajigs each week when priced at $184 per thingamajig. According to a survey

Please show work.

1. Suppose that you are able to sell 540 thingamajigs each week when priced at $184 per thingamajig. According to a survey of customers, decreasing this price by $1 will result in adding 3 weekly sales, and vice versa. Your boss is considering changing the price per thingamajig to maximize revenue (units sold times price). Explain what this change in price should be, and why
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
