Calculate selling price and quantity that maximise profits, Marketing Management

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Calculate selling price and quantity that maximise profits

Problem

ZZ Ltd are launching a new product and are trying to determine the selling price to maximise profit. Research has indicated that if the price was set at £30 per unit, 1,200 units would be sold. Reducing the price by £2 would see demand increase by 200 units. The variable cost per unit is expected to be £15 per unit.

Task

Calculate the selling price and quantity that would maximise profits.

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Marketing Management: Calculate selling price and quantity that maximise profits

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Marketing Management: Calculate selling price and quantity that maximise profits

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