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Dear John,
First of all, thanks a lot for you help, this is immense work you are doing!
I have a question on example 6 – my result is totally different from what is in the lecture answers. Could you please advise how we get to a = 120?
If a = 100 [selling price] + (0.01[b] x 20,000 [current demand], surely we get to 300.
Thanks in advance,
Andrewb = 2 / 2,000 = 0.001 (not 0.01)
100 + (0.001 x 20,000) = 120
(I do assume that you are watching the free lectures working through the examples in the notes? Using the notes on their own is a waste of time because it is in the lectures that I also explain and expand on the notes.)
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