Maximum/minimum word problem?
please help? i get how to find it when given but i cant do this backwards to find the function :\ By analyzing sales figures, the economist for a stereo manufacturer knows that 150 units of a compact disc player can be sold each month when the price is set to p=$200 per unit. The figures also show that for each $10 hike in price, five fewer units sold each month. 1. Let x denote the number of units sold each per month and let p denote the price per unit. Find the linear function relating p and x. (hint rate of change : delta p/ delta x = 10/-5=-2
What are rules on maximum retail price (MRP) of any product?
Generally, there are no rules for how to set MRP for products (except for few items like some medicines where govt specifies max price).Manufacturer is free to specify any MRP and there is no law around setting MRP. Law only regulates that retailers can’t sell item above MRP. No law in India is stopping manufacturer to put MRP of Eclairs (which is currently Re. 1) as Rs. 100/-. Why they are not doing, as no one will by a small Eclairs for Rs. 100/-. Manufacturers can even put different MRPs for same product. Eg. Water bottles supplied to Malls has higher MRPs (Rs. 40–50) than sold outside (Rs. 20).MRP is becoming more and more a tool to fool people, specially in electronics. High MPRs are intentionally printed on items and then companies pretend to give discount on MRPs decided by them.
Why does Amazon limit the minimum and maximum price one can charge for their Kindle books if one chooses the 70% royalty option?
Amazon has created an incentive to price books below a certain magic number ($9.99) that fits into their business model and beliefs about what drives consumer behavior. Amazon also has transaction costs to worry about, mostly in the form of payment processing. The minimum price is set at a point where Amazon can presumably still make some profit from each sale
How do I set a maximum/ minimum sell price on a stock using Etrade?
If you set a sell order for $10 dollars on Etrade then the stock would sell immediately if the price hits $10 or more. assuming you have this stock position open (as you cannot short using Etrade FPO.) So assuming that your position is currently below $10 you would place a limit order to sell for profit and a Conditional order to sell at $5. Also i notice a conditional order called. Straddle sell. Allow a setting of Profit ($10) and Loss ($5) orders
Optimization problems (maximum profit)?
the question is: Terry makes and sells necklaces. Last summer he sold the necklaces for $10 each, and his sales averaged 20 per day. When he increased the price by $1, he found that he average decreased by two sales per day. so.....I'm asked to find a.) find the demand function, assuming that it is linear. b.) if the material for each necklace costs terry $6, what should the selling price be to maximize his profit. For part a.), I got y = -(1/2)x + 20 I don't know if it's right or not... and for part b) I don't know how to set up the equations....I understand stand the concept of doing this kind of questions...but I can't figured out the right equations... thanks
What is the difference between minimum support prices and procurement prices in India's agriculture context?
Commision On Agriculture Cost and Prices (CACP) decides the MSP and Procurement prices for 23 crops. MSP is announced before sowing of crop and Procurement prices is announced before harvesting of Crop. Procurement prices is always greater than the MSP.
Why is there no MRP (maximum retail price) on products in America?
For at least the past 100 years or so there has been no interest by manufacturers in enforcing a maximum price, but a great deal of interest in minimum pricing. Manufacturers of high quality products have an interest in having them available and on display at better retailers where customers can be shown the advantages of better, more expensive products and receive the sort of service a purchaser of premium products expects. Better shops tend to have higher overhead and cannot survive selling everything at "Amazon" prices. In addition, preventing price erosion can improve a brand's image as a top quality manufacturer.Until 1975, manufacturers could implement Fair Trade pricing- an agreement between the manufacturer and the reseller to sell items at a specific price. Congress made that illegal and for a while there was a pricing free-for-all. As it turns out, Fair Trade wasn't needed as a ruling from 1919 allowed UNILATERAL pricing. The supplier simply notifies the dealer that if it sells a product below a given price they will be cut off. This is legal because there is no collusion as the reseller is never asked to agree to anything. Bose was one one of the first modern companies to implement this and it is being used more and more.
Please help me solve this. Maximum Revenue?
When a wholesaler sold a product at $30 per unit, sales were 192 units per week. After a price increase of $5, however, the average number of units sold dropped to 177 per week. Assuming that the demand function is linear, what price per unit will yield a maximum total revenue?
What is the best formula to calculate maximum level of Inventory?
Maximum Stock Level formula is given below. This formula has been explained with an example.Maximum Stock level = Reorder level + reorder Quantity- (Minimum usage x Minimum lead time)Maximum Stock Level Formula ExampleReorder level of Inventory = 20,000Reorder Quantity (EOQ) = 15,000Minimum usage of inventory = 5000Minimum lead time for arrival = 2 weeksSolutionMaximum level = Reorder level + reorder Quantity- (minimum usage x minimum lead time)=20,000 + 15,000- (5000 x2)=35,000-10000=15,000Formula