Data Analysis

Question

We have 3,000 Units of product to sell over a five day period. From historical sales data, we have estimated the following demand curves

P=price/unit in \$

Q=number of units sold

Day 1: P=10-0.01Q valid for prices between \$3and \$8.

Day 2: same as Day 1

Day 3: P= 15-0.01Q valid for prices between \$6 and \$10

Day 4 P=20-0.01Q valid for prices between \$6 and \$12

Day5: same as Day 1

The revenue maximizing price for Day 1 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).

The revenue maximizing price for Day 2 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).

The revenue maximizing price for Day 3 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).

The revenue maximizing price for Day 4 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).

The revenue maximizing price for Day 5 is (Hint: Please keep one decimal point.), and quantity sold is (Hint: Please enter an integer.).