The objective in this exercise is to develop a numerical price optimization calculator for a linear price-response function (or any other complicated function). Create the below table in a spreadsheet (MS Excel, Google Sheets etc.). Make sure that all cells contains active formulas that calculate the required items using given parameters (b and c). Note that p* denotes the optimal price, d(p*) denotes the demand at the optimal price, r(p*) denotes the optimal revenue and m(p*) denotes the optimal profit. d(p) (2000-bp)+, incremental cost: c TL. = Table 1: Linear Price-Response Function p* d(p*) r(p*) m(p*) 10 20 30

The objective in this exercise is to develop a numerical price optimization calculator for a linear price-response function (or any other complicated function). Create the below table in a spreadsheet (MS Excel, Google Sheets etc.). Make sure that all cells contains active formulas that calculate the required items using given parameters (b and c). Note that p* denotes the optimal price, d(p) denotes the demand at the optimal price, r(p) denotes the optimal revenue and m(p) denotes the optimal profit. d(p) (2000-bp)+, incremental cost: c TL. = Table 1: Linear Price-Response Function p d(p) r(p) m(p*) 10 20 30

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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