Team Exercise
The Price is Right
You are a member of a team of business students that have organized for the purpose of starting a small business selling mobile phone cases. You have recently established a business relationship with an Indonesian manufacturer that can provide durable and attractive cases at a low cost, and you have secured a kiosk at a local mall that you believe is an excellent location for selling the cases. However, you must decide on a pricing strategy for the phone cases. You have been provided with the following information:
Your monthly expenses will be rent on the mall kiosk ($2,500) and hourly pay for your four employees. The kiosk will be open 300 hours per month and the hourly cost of an employee (including benefits) ...
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