Huong Hoang
Professor: Shakiba Enayati
February 3, 2019
Homework 1
Question 11:
Let: d = annual demand for a product in units
p = price per unit
Price-demand relationship: d = 800 – 10p
Constraint: $20 ≤ p ≤ $70
a. With p = $20, the firm can sell:
d = 800 – 10*$20 = 800 – 600 = 200 units
With p = $70, the firm can sell:
d = 800 – 10*$70 = 800 – 700 = 100 units
