QH: Use the demand function D(p)=(p-10)^2 * (p+10)^2 for p values between 0 and 10. Suppose there is no per-item cost. What is the optimal price to set? Calculus (derivatives) won’t be much help here. Figure out a way to do it using technology (desmos? Wolfram alpha? Trying different numbers? spreadsheet?).
QH: Use the demand function D(p)=(p-10)^2 * (p+10)^2 for p values between 0 and 10. Suppose there is no per-item cost. What is the optimal price to set? Calculus (derivatives) won’t be much help here. Figure out a way to do it using technology (desmos? Wolfram alpha? Trying different numbers? spreadsheet?).
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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QH: Use the demand function D(p)=(p-10)^2 * (p+10)^2 for p values between 0 and 10. Suppose there is no per-item cost. What is the optimal price to set? Calculus (derivatives) won’t be much help here. Figure out a way to do it using technology (desmos? Wolfram alpha? Trying different numbers? spreadsheet?).
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