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It was a bumper crop for hominy this year, and The Hominy Man hoped to set a price for a case that ...

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It was a bumper crop for hominy this year, and The Hominy Man hoped to set a price for a case that ...

It was a bumper crop for hominy this year, and The Hominy Man hoped to set a price for a case that maximized profit. The annual fixed cost for the hominy harvesting and other equipment is $10,000 and the variable cost per case is $0.50. The price is related to demand according to the following equation: v = 800 - 16p. What is the optimal price of a case of hominy that will maximize the profit?

• $16.16

• $25.25

• $37.37

• $44.44

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Introduction to Management Science

Edition: 13^th

Author: Taylor

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Brilliant ツ

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