Econ

You estimate that the annual cost of this business will be as follows: Technology (Web design and maintenance) $5,000 Postage and handling $1,000 Miscellaneous $3,000 Inventory of cookbooks $2,000 Equipment $4,000 Overhead $1,000 You must give up your full-time job, which paid $50,000 per year, and you worked part-time for half of the year. The average retail price of the cookbooks will be $30, and their average cost will be $20. Assume that the equation for demand is Q = 10,000 – 9,000P, where Q = the number of cookbooks sold per month P = the retail price of books. Show what the demand curve would look like if you sold the books between $25 and $35.

Answer

Study Cred Tutor

4.6 (24k+)
4.6/5

Purchase the answer to view it

×

Hello!

Click one of our contacts below to chat on WhatsApp

× How can I help you?