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Based on historical data regarding sales, War Games management forecasts demand for the game to be P= 50- 0.002Q, where Q denotes unit sales /year, & P denotes price in dollars. The cost of manufacture is C= 140,000 + 10Q.
Calculate the following, assuming that War Game maximizes profit:
a. quantity
b. price
c. total cost
d. total revenue
c. total profit

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Solution Summary

This solution is comprised of a detailed computation to answer quantity, price, total cost, total revenue, and total profit in order to maximize profit for War Games.

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Based on historical data regarding sales, War Games management forecasts demand for the game to be P= 50 - 0.002Q, where Q denotes unit sales /year, & P denotes price in dollars. The cost of manufacture is C= 140,000 + 10Q.

Calculate the ...

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