Chapter 91
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
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?
When you don’t know the price elasticity for a product or don’t think ...
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