Question: We have the demand function for Product X is Q = 100 - 2P. The company decided to set the price per product at $15.

We have the demand function for Product X is Q = 100 - 2P. The company decided to set the price per product at $15. Is $15 the optimal price to charge to maximize revenues? What is the optimal price?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!