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Hello John
In example2 relating to chapter7 Optimal pricing tabular approach the answer is $15 optimum selling price because the maximum profit is $360 – which is fine I was able to follow the workings. On the next page it states the optimum selling price occurs where marginal revenue=marginal cost but in example2 at $15 the marginal revenue streams $1,400 and marginal cost=1,360?Have you watched the lecture, because I explain all this in the lecture?
You should not be using the notes without watching the lectures – they are lecture notes and it is in the lectures that I explain and expand on the notes.
If you are not watching the lectures for any reason then you need to study from a Study Text.
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