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- May 22, 2020 at 12:14 am
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?May 22, 2020 at 8:55 amAs 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.
May 23, 2020 at 1:10 pmyes 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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