We have 3,000 Units of product to sell over a five day period. From historical sales...

We have 3,000 Units of product to sell over a five day period. From historical sales data, we have estimated 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

Day 5: same as Day 1

1. The revenue maximizing price for day 3 is______ and quantity sold is _______.

2. The revenue maximizing price for day 4 is ______ and quantity sold is _______.

Expert Answer

Expert Solution

Rahul Sunny answered 1 year ago

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