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Microsoft Excel 2013: Data Analysis and Business Modeling by Wayne L. Winston

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Chapter 85. Pricing products by using subjectively determined demand

Questions answered in this chapter:

  • Sometimes I don’t know the price elasticity for a product. In other situations, I don’t believe a linear or power demand curve is relevant. Can I still estimate a demand curve and use Solver to determine a profit-maximizing price?

  • How can a small drugstore determine the profit-maximizing price for lipstick?

Answers to this chapter’s questions

This section provides the answers to the questions that are listed at the beginning of the chapter.

Sometimes I don’t know the price elasticity for a product. In other situations, I don’t believe a linear or power demand curve is relevant. Can I still estimate a demand curve and use Solver to determine a profit-maximizing ...

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