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Sir can u please explain this problem with workings because my answer is different
Julia has now decided that she will not charge $100, but will instead charge either $120 or
$150 per bed.
Again she has used market research to estimate the demand at these prices, and having
revised her expected production costs has prepared the following profit table:Demand 8,000 units
Demand 12,000 units
Demand 14,000 units
Price per unit of $120
$50,000
$60,000
$108,000
Price per unit of $150
$80,000
$70,000
$132,000
What selling price should she choose if she uses the maximax decision making
approach, and what selling price if she uses the maximin approach?As you have typed it, the question doesn’t really make sense.
It is obviously only part of the question and I need to see the whole question (I am guessing that it is one part of a Section B question).If it is a past exam question or a question in the BPP Revision Kit, then say which question and then I can see it for myself.
yes sir it is a part question but i can’t tell you which no.it is from the revision kit as i have not received my bpp revision kit yet.If you can answer it,it’s fine otherwise will wait for the kit to arrive and let you know.
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