Chapter 86. Pricing products by using subjectively determined demand

Questions answered in this chapter:

Image 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?

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

Answer to this chapter’s questions

Sometimes, I don’t know the price elasticity for a product. In other situations, I don’t believe a ...

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