You are the manager of the Chevrolet Motor Division of GMC. Your Marketing department estimates that the semi-annual demand for the Chevy Tahoe is Q=100,000-1.25 P. What price do you recommend that GM charge for its Tahoe if its desire is to maximize sales? Draw a graph that illustrates your recommendation.© BrainMass Inc. brainmass.com October 10, 2019, 2:18 am ad1c9bdddf
Please refer attached file for graph.
Total Revenue, TR=P*Q=(80000-0.8Q)*Q=80000Q-0.8Q^2
For Revenue maximization, Put ...
Solution describes the steps to determine the price at which total revenue is maximized.